RBS told to meet US fine from bonuses – FT.com

February 2, 2013 By dralfoldman in Central banks, David Cameron, Euro Crisis, George Osborne, Neoliberal Tags: George Osborne, London Interbank Offered Rate, Royal Bank of Scotland, Royal Bank of Scotland Group 2 Comments

Borrowing Under a Securitization Structure

Borrowing Under a Securitization Structure (Photo credit: Wikipedia)

Diagram of the Subprime Mortgage Crisis

Diagram of the Subprime Mortgage Crisis (Photo credit: Wikipedia)

English: Each of the five largest investment b...

English: Each of the five largest investment banks took on greater risk leading up to the subprime crisis. This is summarized by their leverage ratio, which is the ratio of total debt to total equity. A higher ratio indicates more risk. From fiscal years 2003-2007, these firms significantly increased their leverage ratios. A ratio of 10-15 is more typical of a conservative bank. These firms had ratios closer to 30. (Photo credit: Wikipedia)

This article in the FT is worth a read. Check it out!

via RBS told to meet US fine from bonuses – FT.com.

Surely, it’s time to get rid of the investment banks from public ownership?

Hive off the investment banks, tart them up and then sell them to the highest bidder is the solution, in my view.

Thoughts?

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Libor ‘structurally flawed’, says Fed – FT.com

July 18, 2012 By dralfoldman in Austerity, Central banks, Euro Crisis, Neoliberal, Politics, Uncategorized, US Election Tags: Barack Obama, Barclay, Ben Bernanke, Central bank, David Cameron, Federal Reserve System, Financial Times, George Osborne, LIBOR, London Interbank Offered Rate, Timothy Geithner 2 Comments

JACKSONVILLE, FL - NOVEMBER 5: Federal Reserv...

JACKSONVILLE, FL – NOVEMBER 5: Federal Reserve System Chairman Ben Bernanke speaks to an economics class at the Davis College of Business at Jacksonville University in Jacksonville, Florida November 5, 2010. (Image credit: Getty Images via @daylife)

The FT picks up on a pretty damning report on Libor from the Fed. It’s well worth a read.

Libor ‘structurally flawed’, says Fed – FT.com.

As predicted in the Economist, the Libor scandal has gone global.

What next perhaps depends upon who wins the US election.

What do you think?

Bernanke Defends Response to Libor Scandal – Businessweek (businessweek.com)

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