Banking, Regulations

NY FED: It’s Time to Rewrite the Rules of Wall Street

Regular readers of this blog know that I strongly believe that the U.S. has so far wasted the opportunity the last financial crisis gave us to reform Wall Street. Despite the chorus of voices saying that it’s time to fix the heart of the capitalist system, regulatory responses have been weak or inconsistent, and that is putting it mildly. So […]

Read more

FT: “Mood on banking turns full circle”

FT has some good news for bankers: apparently, the storm in over and they can even “admit their profession at dinner parties these days” An excerpt: Bob Diamond was three years ahead of his time. When the former head of Barclays told a parliamentary committee in January 2011 that the “period of remorse and apology . . . needs to […]

Read more
Banking, Finance, Regulations

The Lure of Quanxi: East and West

The Economist posted an interesting small piece yesterday about the current investigation of US bank’s hiring of Chinese “princelings” in their China offices. Of course, as the article points out, no one in China would be surprised to learn that the latest intern to join a team was the son/daughter/niece/nephew/etc. of a government official. As […]

Read more

Bankers in School?

Interesting note today about UK scheme to have bankers teach financial basics in schools: The plans are part of a campaign by more than 200 MPs to make financial education compulsory by embedding it into core subjects such as maths. “Teachers have to be trained to certain level but there should also be a database […]

Read more