The Volcker Rule, named after former head of the Federal Reserve Paul Volcker who advised on the investment banking reforms of the Dodd-Frank legislation, has been rumoured for ages and was originally a proposal to ban proprietary trading completely. Proprietary, or prop trading, is where a bank speculatively plays the markets from their own P&L…
It’s a Sunday morning and I’m asked to contribute to a debate on the BBC’s Sunday Morning Live (using awful Skype webcam) about whether the rich should feel a moral obligation to pay more tax.* My take on this is that the rich make their money through businesses generally that are tax efficient through tax avoidance…
It’s a Sunday morning and I’m asked to contribute to a debate on the BBC’s Sunday Morning Live (using awful Skype webcam) about whether the rich should feel a moral obligation to pay more tax.* My take on this is that the rich make their money through businesses generally that are tax efficient through tax avoidance…
Email received 08:47, 29/09/2011: Dear Mr. Skinner I have to say that your blog reflects the UK: a nation of bloody whingers. This was well demonstrated by the release of the FSA’s figures this week that shows all your citizens do is complain. In fact, I wholly expect you to post the headline today that…
Email received 08:47, 29/09/2011: Dear Mr. Skinner I have to say that your blog reflects the UK: a nation of bloody whingers. This was well demonstrated by the release of the FSA’s figures this week that shows all your citizens do is complain. In fact, I wholly expect you to post the headline today that…
I was sent a list from the American Banker this week, who have just published their annual list of the most powerful women in banking. Number 1 is Karen Peetz, Vice Chairman of BNY Mellon Generates roughly half of BNY Mellon's pretax income Manages a third of its 52,000 employees in 115 cities around the…
For those who are that interested, here are all the blog entries made during the week at SIBOS in one place … SIBOS 2011 – what will be the big themes? We should be talking about risk. And so SIBOS begins First impressions. Brett King launches Movenbank at #sibos #innotribe Brett King, author of Bank 2.0, is…
