Archive for April, 2008
Tuesday, April 22nd, 2008
Following the US general election in November, Gordon Brown will become the only leader of a G7 country who can read a bank balance sheet. That and his reputation as a dour Scotsman may make him the person most qualified to carry Britain's standard to the front rank in the ...
Posted in Polticial Decisions Affecting Banking, When Regulation Goes Wrong | No Comments »
Monday, April 21st, 2008
We learned this week that the board of London bank branch officers that submit LIBOR (London Interbank Offered Rate) rates, the version of Eurodollar rates used in most contracts involving bank wholesale deposit rates, to Reuters and ultimately to the rest of the world, have been shading the rate low. ...
Posted in The Banking Crisis, Markets and Regulation, Polticial Decisions Affecting Banking | No Comments »
Friday, April 11th, 2008
The financial pages are a rich source of comedy, but it was with extraordinary hilarity that I observed today that Lehman has wasted no time standing on ceremony. It’s back to business as usual for them. Nose to the old grindstone.
Recently the Federal Reserve, in a move, the papers said, ...
Posted in Games Bankers Play, The Banking Crisis, Markets Matter | No Comments »
Thursday, April 10th, 2008
On March 8, the G7 announced that it is forming a plan – a plan that would put an end to the crises that seem to plague the post-OPEC world financial system. They’ll plan. The plan won’t work.
The G7 – the United States, the United Kingdom, Canada, France, Germany, Italy ...
Posted in Markets Matter, When Regulation Goes Wrong | No Comments »