Tag: “bank crisis” regulation

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Sep 18th 2008 | Russian Missile Crisis – banking crisis version

Colin Henderson

I heard the headline earlier today but only after listening to this video now do I appreciate the depth of this.  We know the Lehman Brothers collapse was serious but only now do we know to what extent.  This was the economic version of the Russian missile crisis. It also explains for the first time, the awkward and otherwise inexplicable overnight shift in TARP approach by Paulson. Listen to the comments at 2 minutes 20 seconds and from then on.  Kanjorski is the Chair of the Capital Markets Committee.  The key comments are: “it was about September 15th [note his … Continue reading Sep 18th 2008 | Russian Missile Crisis – banking crisis version

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Bank nationalisation by a thousand cuts is distracting us from the root problem

Colin Henderson

In the series “The Great Unwinding” last week two types of banks, Financial Utilities and Risk Takers were highlighted to appear.  This direction received strong support this weekend with Alistair Darlings order to perform a complete review of bank practices. The review is the not so thin edge of a large wedge when the ramifications are considered. The chancellor said on Sunday that the review would look at risk management by boards including how pay affects risk taking; it would also look at the way boards operate and the role of institutional investors. … Mr Osborne (Shadow Chancellor)  added: “The … Continue reading Bank nationalisation by a thousand cuts is distracting us from the root problem