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On the trail of Fred the Shred

In Article Library by Ian Fraser2 Comments

By Ian Fraser Published: Sunday Herald Date: 8 June 2014 Ian Fraser’s new book, Shredded – Inside RBS: the Bank that Broke Britain, has been acclaimed as the definitive account of the crisis. Here he reflects on the 13 things he learned along the long, hard road to publication (1) …

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Chuka Umunna: PWC’s useful idiot?

In Blog by Ian Fraser1 Comment

January 23rd, 2014 I’ve long wondered how committed the Labour shadow business secretary and MP for Streatham Chuka Umunna really is to UK banking reform. It seems the answer is “not very”. In the furore that followed the publication of the Tomlinson Report on November 25 last year, a report …

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Writing the wrongs of the financial crash

In Article Library by Ian Fraser0 Comments

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 …

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Yes Scotland’s crisis avoidance claim is just laughable

In Blog by Ian Fraser0 Comments

January 18th, 2013 (updated January 19th, 2013) Blair Jenkins, chief executive of the Yes Scotland campaign, today claimed that Scotland “might very well not have had a financial crisis” if it had been an independent country. This is a ridiculous claim which further undermines the credibility of the ‘Yes’ campaign, …

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FSA plays dangerous game with relaxation of capital rules

In Blog by Ian Fraser0 Comments

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 …

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Banking’s ‘Milly Dowler’ moment

In Blog by Ian Fraser2 Comments

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 …

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John Kay on the illusory nature of bank profits

In Blog by Ian Fraser0 Comments

16 April 2012 In this speech the economist and author John Kay examined how the financial sector continues to make — or claims to make — returns-on-equity which are way in excess of any reasonable estimate of cost of capital. Kay, a visiting professor at London School of Economics, examined various possible …

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Rowan Bosworth-Davies | Has the UK rediscovered its appetite for prosecuting ‘white collar’ crime?

In Blog by Ian Fraser17 Comments

16 March 2012 In the second in a series of guest posts, Rowan Bosworth-Davies, a financial crime consultant and former Scotland Yard detective, provides a historical perspective on the UK authorities’ lack of appetite for prosecuting high level financial crime Edwin Sutherland, the American sociologist and criminologist, is perhaps best known for his …

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Andy Haldane’s proposals for breaking the bankers’ doom loop

In Blog by Ian Fraser1 Comment

By Ian Fraser Published: QFINANCE Date: 25 October 2011 For a central bank director, Andy Haldane is remarkably alert to the widening cracks in the global financial system. Delivering the Wincott Annual Memorial Lecture in London on October 24, Haldane tried to shake policymakers and regulators out of their complacency by …