(Republished on Oct. 19 with the following disclaimer: Neil Collins owned shares in BP when he wrote this article; he bought shares shortly before and after)
The Great Debate UK
from UK News:
While attending a meeting of prominent climate sceptics during the U.N. Climate Conference in Copenhagen in December (an anti-COP15, if you will), I listened to each of the speakers put forward their theory on why conventional evidence on the primary causes of climate change should be dismissed as, for lack of a better phrase, complete hokum.
-Damian Stancombe is head of Corporate Defined Contribution Pensions at Punter Southall Group. The opinions expressed are his own.-
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.
One of the challenges for bond investors over the coming years is how to deal with the enormous ballooning of government debt that is happening as a result of the credit crisis.