March 31st, 2009 Keynesianism is a disastrous response to the global financial crisis that will only prolong the pain. On the eve of the G20 summit, Peter Schiff, president of Euro Pacific Capital and author of The Little Book of Bull Moves in Bear Markets, argues that President Barack Obama’s prescription to cure the global […]
March 30th, 2009 In September 2003 I was surprised to be invited to the ancient burgh of Dunfermline to interview Peter Weanie, who had been hired the previous year from Clydesdale Bank to become head of commercial lending at Dunfermline Building Society. At the time I remember being a little surprised that a traditional building […]
By Ian Fraser Published: The Sunday Times Date: March 29th, 2009 The delicate art of handling recessions, which includes preserving a semblance of economic wellbeing without necessarily frightening the horses though excessive doomsday talk, does not come naturally to any government. When the administration concerned doesn’t have control of the fiscal levers — as is […]
By Ian Fraser Published: The Sunday Times Date: March 29th, 2009 A Haddington-based company has unveiled ambitious expansion plans that are expected to create 2,000 jobs across the UK. Baguette Express, a sandwich bar chain founded in 1999, plans to open at least 200 additional outlets across England by 2014. The franchise-based operation currently has […]
By Ian Fraser Published: The Sunday Times Date: March 29th, 2009 The collapse of Mountgrange Capital, the controversial developer behind the Caltongate project in Edinburgh’s old town, is expected to leave a gaping hole in Edinburgh’s city centre. It also raises questions about the attitude of banks towards corporate lending and about the future for […]
By Jason Allardyce and Ian Fraser Published: The Sunday Times Date: March 29th, 2009 Dunfermline Building Society is expected to become the latest Scottish financial institution to lose its independence when it is taken over by new owners early this week. The lender, Scotland’s largest building society, collapsed after regulators — the Bank of England, […]
By Ian Fraser Published: The Sunday Times Date: March 29th, 2009 The Dunfermline Building Society (DBS) has lined up a £30m capital injection from the Building Societies Association over and above a £25m funding package secured from the Scottish goverment as it seeks to shore up its capital position. The group must have its refunding […]
March 23rd, 2009 The paparazzi have a new target. Yes it’s the panto-villain of the credit crunch, Sir Fred Goodwin. According to a report published in today’s Guardian (Rich Pickings) Sir Fred Goodwin is now worth more than Britney Spears and about as much as Brad Pitt and Angelina Jolie with their kids. If you’re […]
March 22nd, 2009 The Observer this morning ran a story claiming that three of RBS’s non-executive directors were bullied, intimidated and threatened with the sack if they dared to ask questions about what the bank was up to during the testosterone-fuelled Sir Fred Goodwin years. (see RBS faces probe over ‘threats’ to directors.) As a […]
March 22nd, 2009 Last week I met two Edinburgh-based academics who specialise in the field of finance and risk. They told me that, in their view, Lord Turner’s review on the future of financial regulation is flawed. They said this is largely because the Turner review, published last Wednesday, failed to push for a more […]