The Great Debate UK

from UK News:

Send in questions for city minister Paul Myners

December 14, 2009

BRITAIN-MYNERS/

City Minister Paul Myners is among a handful of people with first-hand experience managing the financial crisis over the past year.

from The Great Debate:

UK bonus tax both cynical and justified

December 10, 2009

(James Saft is a Reuters columnist. The opinions expressed are his own)

A cynical election maneuver it may well be, but Britain's plan to impose a punitive tax on bonus payments is also reasonably well crafted and in broad terms justified.

from UK News:

Too big to fail? Guerrilla central banking and the last resort

November 25, 2009

ukreuterscomDeciding it was safe to come clean because banks are now on a more even keel and the worst of the credit crisis is behind us, the Bank of England has told the nation that at the height of the turmoil it secretly lent Royal Bank of Scotland and HBOS a colossal £62 billion, which is more than the entire British defence budget.

When firms “Too Big to Fail” fall

November 5, 2009

Amid the turmoil of the 2008 financial crisis a myriad of events unfolded that the general public knew nothing about, writes New York Times reporter Andrew Ross Sorkin in a new book titled “Too Big to Fail.”

from Breakingviews:

Barclays shake-up leaves Frits in bits

November 3, 2009

So much for Barclays' ambitions to be a magnet for banking talent. When the British bank hired Frits Seegers, the Dutchman arrived with a big reputation and an even larger price tag -- the cost of buying him out of his previous job at Citigroup. Three years on, he's on his way, the main casualty of a management shake-up that leaves his main rival, Barclays president Bob Diamond, looking stronger than ever.

from Breakingviews:

Contingent capital and the black horse’s head

November 3, 2009

Lloyds seems to be taking a leaf out of Vito Corleone's book: if you need someone to do something that they don't want to, you have to make them an offer they can't refuse. For the mafia boss in The Godfather, that meant decapitating a horse. For Lloyds, the UK bank whose logo is a black horse, it means threatening to cut off interest payments on your own debt.

from Commentaries:

Barclays risky assets move a little too cozy

September 17, 2009

Barclays has come up with an interesting way to solve an optical problem. Concerned that the bank's shareholders are nervous about possible future writedowns of wobbly assets with a value of $12.3 billion, it has sold them to its own employees.

from Commentaries:

Re-elected Barroso faces market challenge

By Paul Taylor
September 16, 2009

bozoJose Manuel Barroso promised the European Parliament that as re-elected president of the European Commission he will have more authority to fight for Europe and defend its single market against economic nationalism.

from Commentaries:

Banks must see the debate has changed

August 28, 2009

Regulators are rarely accused of being too candid. But Adair Turner's observation that the financial sector is too large has seen the chairman of Britain's Financial Services Authority swamped by a wave of protest.