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Causes of the Credit Crash, Part One: The Machines
Technology is blamed as a major cause of the current market meltdown according to an in-depth article in today’s Financial Times entitled: "Algo trading: the dog that bit its master". These themes build upon the review of capital markets I put forward in December, as well as the discussion of Goldman Sachs’ $1.5 billion algo…
Regulators teach grandma to suck eggs
I just read the FSA publication, Market Watch 25, which focused on the systems and controls trading banks should implement in light of Societe Generale’s rogue trader incident. Apparently, since the SocGen incident, the FSA has had cosy little chats with about fifty trading banks around London. The conclusion is that firms should: …
Regulators teach grandma to suck eggs
I just read the FSA publication, Market Watch 25, which focused on the systems and controls trading banks should implement in light of Societe Generale’s rogue trader incident. Apparently, since the SocGen incident, the FSA has had cosy little chats with about fifty trading banks around London. The conclusion is that firms should: …
Banking on the Moon
OK, OK … after all the knocking of Microsoft over their horrific Vista and Office 2007 faux pas, I’ve found a good news story about them to balance everything. Yes, Microsoft has beaten Google’s attempt to conquer space by building the Worldwide Telescope. Debuting at TED Talks, the Worldwide Telescope (WWT) is an amazing interactive…