27 Jan 2015

Single Capacity to protect counterparties - notes on Goldman/LIA dispute

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Not a question of being smarter, though that may well be the case. It is a question of morality - or lack thereof. When firms are feted as ...
21 Jan 2015

QE - should you laugh or cry?

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More and more desperate calls for all-out QE in the Eurozone make me laugh and cry at the same time. Laugh because it is not very likely tha...
20 Jan 2015

Does Bini Smaghi pass the competency test?

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Lorenzo Bini Smaghi may have many (too many?) fine qualifications, but he is basically an academic and bureaucrat who never in his life made...
5 Dec 2014

Being a 'Global' Bank brings extra Risks

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One has to wonder if being a 'Global' Bank is really an intelligent business proposition. It requires Superman/woman to manage far-...
11 Sept 2014

Succession planning at Santander - an example to follow

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Yesterday's announcement of the death of Emilio Botin, the man behind the immense growth of Banco Santander over the pa...
11 Aug 2014

Regulators know no shame when they are after taxpayer's money

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European Commission to investigate possibility of levy to fund EIOPA ( IPE ) The EU is particulary shameless as there is no proper supervis...
30 Jul 2014

7-Yr Bonus Clawback? You must be joking!

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That is what a former Wimbledon Champion would probably say to the psychopathic politicians and regulators (including reckless Bank of Engla...

Regulatory Nightmare is here and now!

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I quite often said that the control freaks in charge of our lives - i.e. psychopathic politicians - will not be satisfied with extending eve...
10 Jun 2014

European Bond Markets have come full Circle

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A few years ago (2005) we warned that anyone continuing to hold Italian government bonds yielding a measly 15 basis points more then German ...
7 Jun 2014

TLTRO - a can of worms

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Last week's announcement by the head of the ECB, Don Draghi, that the Eurocrats will pump up to € 400 billion into a 'targetted'...