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Fantastic, amazing, a triumph! The bankers’ view of the FCA redress scheme

Ripped-off-Britons-charac-004

October 24th, 2013 By Honestly Banking The banks’ Interest Rate Swaps scam ruined businesses across the UK. Having explained how ‘interest rate swaps’ work and why they were sold in previous posts, we asked the undercover banker Honestly Banking to tell how the banks have managed to get themselves made judge and jury in the processing […]

October 24th, 2013 | Posted in Blog | Read More »

Writing the wrongs of the financial crash

Robert Peston at the EIBF
Photo: EIBF / Pascal Saez

By Ian Fraser Published: Sunday Herald Date: August 25th, 2013 FOUR decades of laissez-faire policies have left Britain as a deeply indebted and uncompetitive economy that is unable to pay its way in the world and incapable of rediscovering its economic mojo, according to a number of economists and speakers at the Edinburgh International Book Festival last […]

August 25th, 2013 | Posted in Article Library | Read More »

Fiscal cliff looms large for all of us

Rock Climb - Overhang

By Ian Fraser Published: Sunday Herald Date: November 11th, 2012 Stability of leadership has been confirmed in the US and China – now they need stability in their economies, or the world will suffer. By Ian Fraser Today’s global economy is like a drunk meandering his way across a busy street after a year-long binge […]

November 11th, 2012 | Posted in Article Library | Read More »

Illusion of unassailability leads to fresh outbreak of ‘mad banker disease’

Banksters

November 6th, 2012 By Gordon Neave Picture: The Economist During the late 1980s and early 1990s British bankers changed for the worse. Having spent most of the past three centuries as financial herbivores — solid, reliable and rational members of the community — they metamorphosed into wild, hungry carnivores. Fuelled by commissions, bonuses and greed, […]

November 6th, 2012 | Posted in Blog | Read More »

FSA plays dangerous game with relaxation of capital rules

Enrique Schroth - Cass

October 10th, 2012 Today the Financial Services Authority formally relaxed capital and liquidity rules on UK banks in the vague hope this might kickstart lending and do something to ensure the UK economy can pick itself up off the floor. The Canary Wharf-based regulator also said that it would not require banks to hold extra […]

October 10th, 2012 | Posted in Blog | Read More »

Stephen Hester renounces Milton Friedman’s doctrine of greed

RBS CEO Stephen Hester on banking scandals

October 2nd, 2012 Speaking to an audience of students and finance industry insiders at the London School of Economics yesterday, Royal Bank of Scotland chief executive Stephen Hester renounced the Friedman Doctrine that has done so much damage to our economy and society since the 1970s. Hester said that banks and other companies have been […]

October 2nd, 2012 | Posted in Blog | Read More »

Robert Jenkins: Puncturing bankers’ myths

Too Big To Fail - JP Morgan Chase's Jamie Dimon

September 26th, 2012 [Ian Fraser's introduction] In this speech, Robert Jenkins blows apart the self-serving myths that bankers and their lobbyists have been peddling since the financial crisis ripped apart the global financial system in 2007-. He also explains that, unfortunately ‘captured’ regulators and politicians have swallowed the myths whole. The unsurprising consequence is that post-crisis […]

September 27th, 2012 | Posted in Blog | Read More »

Durable change a long way off for UK’s scandal-ridden banking system

Bob Diamond exits

By Prem Sikka, University of Essex July 8th, 2012 The role of Barclays bank in manipulating the London Interbank Offered Rate (Libor) continues to dominate international financial media. The bank has already attracted fines from regulators in the UK and theUSA. But further revelations are likely as US Senate Committees are flexing their muscles, the UK […]

July 9th, 2012 | Posted in Article Library | Read More »

Banking’s ‘Milly Dowler’ moment

Mervyn King

June 29th, 2012 This is banking’s ‘Milly Dowler’ moment. Finally the blinkers are off and the rest of the world (by which I mean people like leading politicians and the mainstream commentariat) is waking up to the culture of self serving greed and corruption that has infested the UK’s banking sector, about which I’ve been […]

June 29th, 2012 | Posted in Blog | Read More »

The Economist loses the plot with this shallow, pro-City propaganda

Economist Save The City 6 Dec 2011

January 7th, 2012 I was surprised and disappointed when I opened my copy of The Economist on Friday morning. The magazine is running a feebly-argued propaganda piece headlined “Save the City” as its cover story. The piece vaunts the “skills” that are to be found in the City of London and seeks to persuade us […]

January 7th, 2012 | Posted in Blog | Read More »

Fraser on Twitter

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