Archive for banking
The reasons banks failed - set out in graphical form
Via the Financial Times: Nick Clegg and Vince Cable are leading a push to reopen talks on UK banking reforms in a move that could stoke coalition tensions. The Liberal Democrat deputy prime minister and business secretary want to re-examine whether banks’ retail operations should be allowed to market complex derivative products. The FT has […]
From March 2011: Senior bankers familiar with Libor expressed surprise at the investigation [into allegations that Barclays and others manipulated the rate], saying it was hard to see how one bank or small group of them could manipulate it.
A very good question indeed, and one that I and others were asked for this report from Cicero Consulting: How can retail banks rebuild their reputation?
As ever, it’s three things to remember: “What you won’t hear from me is easy cheap lines bashing financiers” (Evening Standard, 28 September 2008), He also thought such talk was a “lurch to the left” (PMQs, House of Commons, 21 February 2007, on calls for curbs to city bonuses), And he said criticising bonuses is [...]
Having written before about how Vince Cable and the Liberal Democrats could be leading a campaign to get people to move their bank accounts, you might expect me to be welcoming the (independent) Move Your Money site which has just launched. It is always good to see more people campaigning and more people offering up […]
Lots will be said today about the government’s plans for banking reforms. You can cut your way through all the public verbiage and find out what politicians really think with this simple guide: Liberal Democrats If Liberal Democrats like them, they are Vince Cable’s reforms. If Liberal Democrats don’t like them, they are George Osborne’s […]
Vince Cable on how the government is pushing ahead with banking reform: Nick Clegg on his opposition to tax breaks for marriage:
A quirk of the political calendar means Monday sees both politicians and bankers learn of their possible future fate. For English MPs it is when they get embargoed copies of the Parliamentary Boundary Commission’s draft proposals, which get published on Tuesday. Monday is also the day when the Vickers Commission publishes its banking reform recommendations. [...]