The Royal Bank of Scotland's annual general meeting was once a genteel affair frequented by ladies from Morningside. But it is becoming more and more bizarre with each passing year and the surrealistic nature of the event has intensified since the Edinburgh-based institution was bailed out with £45.5 billion of...
(16) Comments | Posted 14 December 2011 | (14:21)
Despite having spent an estimated £10m on its report into the failure of RBS the FSA has failed to find any smoking guns. The regulator's chairman Lord Turner has found no evidence that anyone at the bank or at its advisers deserves to be punished, as none actually broke any...
(0) Comments | Posted 1 December 2011 | (09:00)
One of the leader articles in today's Financial Times is very well-written. It highlights the boardroom failures, and particularly the failure of the non-executive directors, at Lloyds Banking Group.
The article highlights a string of corporate governance errors made by the Lloyds board, which since September 2009 has...
(1) Comments | Posted 19 October 2011 | (11:41)
The Occupy Wall Street movement that started in Manhattan's Zuccotti Park on September 17 has, since last weekend, spread like wildfire into more than 1,500 cities around the world. Given the dangerous and unsustainable forms of "crony" and "casino" capitalism that now predominate in the Western world, this is hardly...
(1) Comments | Posted 5 October 2011 | (13:02)
David Cameron displayed an astonishing lack of understanding of the banking sector in his interview with Sarah Montague on the BBC Radio 4 Today programme on Tuesday morning (as I'm afraid did Sarah, given her blinkered obsession with "bonuses").
If Cameron's stumbling performance was due to ignorance, then...
(2) Comments | Posted 8 June 2012 | (09:04)