Posts tagged ‘Financial services’

July 8, 2010

An honest banker

From Though Cowards Flinch:

Steve Barrow, currency strategist, Standard Bank,in the FT:

[I]t’s the financial markets that have the power to strain governments and so bring about change, not the unions and the electorate.

Well, at least we know where we stand.

The picture above?  Oh, that’s 20 Gresham Street, London EC2V JVE, home to Standard Bank in the UK. According to the brochure, the building ‘creates an unparalleled corporate statement’.

Just like Steve Barrow, then.

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April 23, 2010

NEWS/ANALYSIS: Goldman Sachs

NEWS

Goldman Sachs’s golden boys to testify [Telegraph]

The two Goldman Sachs traders who delivered a $4bn (£2.6bn) profit for the bank from betting against sub-prime mortgage bonds are to be grilled as a key Senate committee turns its focus on the bank’s trading pratices. Michael Swenson and Josh Birnbaum will testify on Tuesday as part of a Senate hearing where current and former Goldman employees will be questioned about their role in the mortgage-backed securities market and how it triggered the financial crisis. [READ THE REST]

Below the fold: the bank industry’s revolving door culture with the UK and US governments, Fabrice Tourre’s half a million bonus, Goldman Sachs’ fees bonanza from UK privatisations, insider trading allegations at Lloyds, the Raj Rajarathnam tip-off, and the continuing confidence of Warren Buffet and BayernLB.

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