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Archive for 'Financial Services'

“It should have broken you into pieces”

Last week Congress approved a $1.1 trillion spending bill that included a number of provisions totally unrelated to spending.
One of those provisions weakened a part of the 2010 Dodd-Frank law designed to prevent risky behavior by federally-insured banks– especially “too big to fail” banks like CitiGroup.
Speaking Friday on the floor of the Senate, Senator Elizabeth [...]

Are UK financial interests protecting Putin from tough sanctions?

The BBC’s Nick Robinson reported on Monday:
The [UK] government will not curb trade with Russia or close London’s financial centre to Russians as part of any possible package of sanctions against Moscow, according to an official document.
The document, which was photographed as a senior official carried it into a meeting in Downing Street, says that [...]

Mitt Romney will probably be available next year

Is anyone here going to the Cayman Alternative Investment Summit in November?
(Hat tip: Talking Points Memo)


The bank JPMorgan Chase has lost $2 billion (which is a lot of money to some of us) in a trade gone bad.
JPMorgan Chase said Thursday that it lost the money in a trading group designed to manage the risks that it takes with its own money. CEO Jamie Dimon said the bank’s strategy was [...]

A Post Congratulating Cameron On Not Kowtowing to Europe and Saving the City of London (and therefore the UK) In the Process

There you are.

Northern Rock Plc. Sold to Virgin Money

When rumours of a run on Northern Rock sparked a run on Northern Rock in September 2007, this bank became the first of all the former building societies which opted for demutualization in the heady days of the credit boon to collapse.
After failing to find a private buyer, it was nationalised in February 2008 and [...]

What is Greek for Political and Economic Chaos?

Despite Kanellos the Greek riot dog being as dead as any dog at Mea Shearim which died of natural causes in 2008, and his resurrection being as staged as That Irishman Abroad’s interview, civil unrest on the streets of Athens continues.
On Tuesday of this week, Prime Minister George Papandreou’s Government survived a no-confidence [...]

Your Plastic Friend

This is an absolute must-have for the discerning anti-imperialist tourist, with a weapons-grade sense of trust.  A North Korean debit card!
Because of the lack of small change in tills in the DPRK for when travellers or NGO workers offer Western currency notes, the Narae (trans. Wing) card has been instigated in which, according to the [...]

The Grinches Who Stole Xmas

Although it is more than Fred Goodwin faced before he took umbrage at being  mistaken for the likes of Matthew Greenburugh, disqualification proceedings have been initiated against nine former directors of Farepak (including its former Chairman, Clive Thompson who also is a former president of the CBI).
Operating as a savings scheme for Xmas hampers, by late [...]

Democrats must be doing something right

The Washington Post reports:
A revolt among big donors on Wall Street is hurting fundraising for the Democrats’ two congressional campaign committees, with contributions from the world’s financial capital down 65 percent from two years ago.
The drop in support comes from many of the same bankers, hedge fund executives and financial services chief executives who [...]