FT.com / World / US & Canada – Bush and Brown in push to deal with crisis Annotated
tags: UK, US, credit crisis
George W. Bush, US president, and Gordon Brown, UK prime minister, have agreed to step up co-operation over the crisis in financial markets. They are setting up a joint working group which will develop plans to monitor and regulate the banking system.
FT.com / Companies / Financial services – London’s rise concentrates minds in US Annotated
tags: financial centre, london, new york
This headline from last year, pre credit crisis is provocative in terms of which centre [London & New York] will come out the larger, and better.
The power shift from New York to London in the investment banking and trading business continued this week as
Merrill Lynch reorganised its top ranks and handed additional power to non-US based executives.
FT.com / Lex / Finance & governance – Securities firms’ future Annotated
tags: bear stearns, citi
The common view is that Citi ought to be broken up …. but the recent implosion of Bear Stearns might suggest that big is good.
The knee-jerk reaction to the shambles at
Citigroup is to call for a break-up. The bank has become too big to manage, the argument goes, and the investment bank should be spun off. It would better manage its risks and might have avoided the huge mortgage losses that have caused such pain. Does that really make sense in today’s credit-crunched world?
FT.com / Comment & analysis / Editorial comment – FSA self-flagellates Annotated
tags: FSA, Northern Rock
The Financial Services Authority (UK) is on the front line of regulatory assessment following nationalisation of Northern Rock.
Britain’s Financial Services Authority deserves high praise for publishing an
excoriating study into its own failure adequately to regulate Northern Rock, the mortgage bank that had to be nationalised after a run by customers last summer. The FSA must now learn the lessons of its own report – something it did not do in the past when supervising Northern Rock – but the FSA’s failure to implement its risk-based approach to regulation does not mean the approach itself is flawed.
Banking Technology Blog Spot » Waiting for Web 2.0 Annotated
tags: banking, paypal, web2.0
Comentary of lack of progress amongst Banks, while non banks such as Paypal thrive.
When you look at the way the internet has impacted the way we consume music and news, or the way we shop, it may seem that financial services is perhaps one of the industries on which the web has had the most limited impact.
Bankwatch 