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The Finanser’s Week: 10th September – 16th September 2018

The main blog headlines are …

Ten years since Lehmans collapsed and the GFC started

It’s September 14. It’s exactly ten years since Lehman Brothers collapsed. It’s ten years since the touchpaper was lit that sparked the Global Financial Crisis (GFC). It’s exactly ten years since I landed in Vienna for Sibos 2008 on Sunday, September 14 2008, to find voicemail …

Financial Institutions Aren’t Prepared for the Digital Revolution

I recently did an interview with my American friend Jim Marous over on The Financial Brand. It’s a good interview so I thought I would post my answers here. Feel free to comment! Your newest book, Digital Human, is obviously an outgrowth from your two …

China’s blood on the carpet in P2P lending

One other thing struck me as the discussions fired away in Shanghai at Lang Di … is China going to haemorrhage and bring down the world’s financial systems … or is that just what the Western media would like us to think? The reason I …

Loans processing for just thirty cents per application (thank you coders!)

I enjoyed the LendIt conference in Shanghai, and wrote a few notes. In particular, I enjoyed hearing the story of XWBank as told by Jiang Hai, the Vice Chairman. His presentation was in Chinese but, from the simultaneous translation and slides, I picked up some …

How will our children lead the world?

I was at LendIt China last week, or Lang Di as it should rightly be called. As readers know, I always get a buzz from visiting China, and this trip was no exception. It made me reflect in fact upon my last twenty plus years of …

 

This week’s top news headlines are …

JP Morgan boss Dimon declares he’d be a better president than Trump, then retracts – The Telegraph

What became of the G20 leaders who met in 2008 to avert financial crisis? – The Guardian
We look at their fortunes and how their countries coped with the worst financial collapse since the 1930s In the wake of the collapse of Lehman Brothers in 2008 the G20 called an emergency meeting in Washington in a bid to contain the fallout from the mounting financial crisis. In

Why ‘stable coins’ are no answer to bitcoin’s instability – Guardian
New cryptocurrencies such as Tether may be pegged to the dollar, but they have big flaws While the mania for cryptocurrencies may have peaked, new units continue to be announced, seemingly by the day. Prominent among the new arrivals are so-called “stable coins.” Bearing names such as Tether , Basis

JP Morgan in ‘full execution mode’ over Brexit as banks begin moving jobs – The Telegraph

HSBC to bolster Asia private banking headcount, double client assets – Reuters
HSBC Holdings Plc aims to increase its Asia private banking headcount by two-thirds in five years and double client assets in eight as it eyes a bigger share of the business in the world’s fastest-growing wealth market, top executives said.

New York regulator approves Winklevoss, Paxos dollar-linked tokens – Reuters
New York state on Monday approved Gemini Trust Company’s and Paxos Trust Company’s dollar-linked digital currencies, the first stablecoins to get the nod from the region’s regulator.

Clydesdale tipped to start buying spree after investors back £1.7bn Virgin Money takeover – The Telegraph

ING CFO Timmermans to step down after $900 million money laundering fine – Reuters
ING Groep said on Tuesday its Chief Financial Officer was stepping down amid a public backlash after the Dutch bank said last week it had failed to prevent money laundering for years, forcing it to strike a 775 million euro ($900 million) settlement with Dutch prosecutors.

The post-crash principle for banks: be moral or bust | Zoe Williams – Guardian
Ten years on from the financial crisis, the sustainability of the planet is at stake – markets cannot survive without morality The real question that should mark the 10th anniversary of the financial crash is a moral one: what was finance for, what was investment for, what was corporate activity

Life lessons from former Lehman Brothers staff – Financial Times
Junior staff at the time of the bank’s collapse talk about how it has affected them

 

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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