Global Investing

Bankers’ ball binned, a step towards appeasement?

November 20, 2008

The storm raging through financial markets has already cost bankers much of their business, bonuses and public esteem. But now they won’t even be able to drown their sorrows in their usual glass of bubbly at one of the most cherished events in Frankfurt’s social calendar.

Never Mind The Bankers

November 17, 2008

Malcolm McLaren, the man who gave us The Sex Pistols, has found the real punks — bankers. In an interview with Britain’s The Observer, he says punk was not just about spiky hair and ripped t-shirts.

from Pakistan: Now or Never?:

“Plan C” – Pakistan turns to the IMF.

November 16, 2008

Pakistan has agreed with the International Monetary Fund (IMF) on a $7.6 billion emergency loan to stave off a balance of payments crisis. 

Banks: what price freedom?

November 3, 2008

What price freedom? Or at least freedom from government interference?

Barclays needs to answer that question after selling big stakes to Middle East investors rather than tap taxpayer funds. The bank is effectively paying 13 percent annual interest for at least a decade, whereas it could have paid the UK Treasury 12 percent for a few years. Add in a whopping 300 million pounds in fees and the deal could cost shareholders as much as 3.2 billion pounds extra, Merrill Lynch reckons.

Pond life: understanding the ecology of the financial crisis

October 27, 2008

Bankers have already had a barrage of abuse, so an article in New Scientist comparing them to pond life will perhaps raise few eyebrows.