Times Online (Free subscription) | 11/24/2009
The combination was devastating. An over-mighty chief executive and weak non-executives provided a partnership that was a key feature of the financial crisis, allowing strategy, pay policy and risk-taking to go unchallenged in financial organisations. The result was the banking crisis that, in turn, sparked a global recession.
The Guardian (Free subscription) | 1 hour ago
'I don't see why the banks are being singled out." The words of Chris Kyle, a senior executive at Lloyds defending his industry on Monday, ring more than usually hollow this morning. In the past 24 hours the British public has been subjected to such a barrage of disturbing financial news it must leave some wondering whether it is the banking industry that has taken over the state rather than...
The Guardian (Free subscription) | yesterday
• Minister raises alarm over 'ownerless corporations' • Time for investors to take responsibility as owners The City minister Lord Myners urged investors to stop acting like gamblers betting on the horses and to take a more responsible and long term view of investment, especially when it comes to the short term allure of takeovers. In an apparent allusion to the attempted acquisition of...
The Business Insider (Free subscription) | yesterday
The human capacity for self-delusion never ceases to amaze me, so it shouldn't surprise me that so many Republicans seem to genuinely believe that they are the party of fiscal responsibility. Perhaps at one time they were, but those days are long gone. This fact became blindingly obvious to me six years ago this month when a Republican president and a Republican Congress enacted the Medicare drug...
Crunchy Con (Free subscription) | 11/23/2009
More cheer from the New York Times: With the national debt now topping $12 trillion, the White House estimates that the government's tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher. In concrete terms, an additional $500 billion a year in interest...
Fund my Mutual Fund (Free subscription) | 11/23/2009
Sometimes I feel like grandma warning to look both ways before crossing the street, and to tie your shoes or you may trip as we talk incessentently about these issues.... to a wall, it appears. No one listened about our warnings on Fannie/Freddie , no one is listening now about FHA, no one cares about our pension disasters , so who is going to listen to the issue that will make those 3 look like small...
The Telegraph (Free subscription) | 11/23/2009
It is just not fair whined Chris Kyle chief financial officer of Royal Bank of Scotland's global banking and markets business. Banks have been unfairly singled out he argued at a conference in Singapore yesterday ahead of the publication of Sir David Walker's longawaited report into corporate governance.
THE CENTRIST (Free subscription) | 11/23/2009
A guest column I wholeheartedly agree with from Yeh Ling-Ling executive director of the Alliance for a Sustainable USA, a national nonprofit organization based in California, about the rapid decline of the United States. U.S. becoming 'spineless and brainless nation' By Yeh Ling-Ling The United States went from being the world's greatest creditor nation to being the world's greatest debtor nation...
Scotsman.com (Free subscription) | 11/23/2009
IN THE aftermath of the near collapse of the UK banking industry, two schools of thought have emerged. One is led by a vengeance-driven desire to pillory the fat cats whose re
The Telegraph (Free subscription) | 11/22/2009
Critics have accused Sir David Walker of avoiding the issue of bankers' pay by sticking to his earlier proposals and rejecting calls for the names of top earners to be published.
The Telegraph (Free subscription) | 11/22/2009
When Sir David Walker publishes his final recommendations this week for a farreaching shakeup of the governance of British banks all eyes will once again be on how the failings of our financial system can be repaired and avoided in the future.
Reuters UK (Free subscription) | 11/22/2009
LONDON (Reuters) -Prime Minister Gordon Brown said on Saturday in his weekly podcast he was ready to "respond swiftly" to David Walker's banking review recommendations expected next week.
The Guardian (Free subscription) | 11/22/2009
Top 20 highest paid employees now unlikely to be identified unless they have boardroom roles Thousands of the highest-paid bankers in the City look likely to cling on to their anonymity as the government prepares to back down from its suggestion that banks should name their top 20 earners. Had the proposal, floated by City minister Lord Myners, been adopted, it would have forced major banks to identify...
The Independent (Free subscription) | 11/22/2009
Sir David Walker has sounded out four of the City's biggest fund managers on his tough recommendations for corporate governance of the UK banking industry ahead of presenting his final review on Thursday.
The Telegraph (Free subscription) | 11/21/2009
CBI president Helen Alexander called the proposals expected in Sir David Walker's report on boardroom governance this week 'inflexible' and warned of extending measures applied to banks to all sectors.
Videos