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Robbing the prudent to protect the irrational

The UK's Financial Services Compensation Scheme (FSCS) was increased over the weekend by law from £35,000 to £50,000.  This means that for any banking collapse in the future, savers and depositors get their money back within seven days guaranteed, regardless of their loans and borrowings. This is meant to restore …

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Will the last to leave the City turn out the lights?

London at Night #3

I stumbled across a photographer on the Boston Globe's excellent Big Picture yesterday.  The photographer lives in Britain and his name is Jason Hawkes. Jason's really into aerial photography and his images of the City by night are quite stunning. He's also given me permission to present a few of …

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The New Economics of Banking

Economics1

This is my fifth posting about why banking will be free (Parts One, Two,Three and Four). I keep talking about this as it's clarifying my own thinking, and I'm intrigued to see if anyone wants to come up with an alternative. This posting comes around because I was thinking about …

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Can banks twitter?

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This year's social networking phenomena has to be Twitter. Ever since Janis Krums posted the first photo of the US Airways plane landing on the River Hudson on Twitter, everyone has been talking about it. From its creation in 2006, it has now become a mainstream tool for blackberriers, mobilers …

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Can banks twitter?

182613360_6d76db726a

This year's social networking phenomena has to be Twitter. Ever since Janis Krums posted the first photo of the US Airways plane landing on the River Hudson on Twitter, everyone has been talking about it. From its creation in 2006, it has now become a mainstream tool for blackberriers, mobilers …

Read More »

Let bad banks fail

I was invited to Ireland this week to join a debate at the University College Cork's Philosophical Debating Society.  The Debate was entitled: This House Believes That We Should Let Banks Go To the Wall, as in banks should die if they are failing. This is well illustrated by the …

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Is Moore Brown’s nemesis?

What a week was last week. HBOS's former executives on the back foot over risk management procedures whilst whistleblower and former Group Head of Risk at HBOS, Paul Moore, packs a few sucker punches to say no-one listened to his warnings about leverage. One person in particular ignored and then …

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Is Moore Brown’s nemesis?

What a week was last week. HBOS's former executives on the back foot over risk management procedures whilst whistleblower and former Group Head of Risk at HBOS, Paul Moore, packs a few sucker punches to say no-one listened to his warnings about leverage. One person in particular ignored and then …

Read More »

An apology to 98% of bankers

After the banking leaders apologies in government hearings, I think I also have to apologise to my friends in the banking industry.  The apology is for the fact that many of us have spent months now writing stinking anecdotes about bankers, the banking system and how rotten some of it …

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An apology to 98% of bankers

After the banking leaders apologies in government hearings, I think I also have to apologise to my friends in the banking industry.  The apology is for the fact that many of us have spent months now writing stinking anecdotes about bankers, the banking system and how rotten some of it …

Read More »

We believe banks should (not) fail?

I promise to write up more of the Middle Eastern case studies and issues soon, but became distracted because next Monday I’m joining a debate in Ireland. The debate is at the UCC Philosophical Society, one of the largest and oldest debating societies, and they came up with a wonderful …

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We believe banks should (not) fail?

I promise to write up more of the Middle Eastern case studies and issues soon, but became distracted because next Monday I’m joining a debate in Ireland. The debate is at the UCC Philosophical Society, one of the largest and oldest debating societies, and they came up with a wonderful …

Read More »