The FSA has just introduced new rules which will cost UK banks £1 billion to implement in IT system upgrades. The actual announcement from the FSA states that bank customers should be compensated within seven days if a bank fails. This should be for the gross amount, up to £50,000, ignoring any debts the depositor…
I found a whole range of technology predictions for 2009. One of the best general forecasts comes from Gartner, who say that the top ten technology areas to focus upon during an economic crisis are: 1. Reduce headcount or freeze hiring2. Renegotiate with technology and service providers3. Curtail data center expansion, virtualize assets and lease…
I found a whole range of technology predictions for 2009. One of the best general forecasts comes from Gartner, who say that the top ten technology areas to focus upon during an economic crisis are: 1. Reduce headcount or freeze hiring2. Renegotiate with technology and service providers3. Curtail data center expansion, virtualize assets and lease…
I was surprised at how little coverage there has been about General Motors (GM) clever way of getting a US Government bailout by becoming a bank. Over the quiet holidays GMAC Financial LLC, GM's car finance business, officially converted itself into a bank. As a result, they got $5 billion of the TARP funds through…
I was surprised at how little coverage there has been about General Motors (GM) clever way of getting a US Government bailout by becoming a bank. Over the quiet holidays GMAC Financial LLC, GM's car finance business, officially converted itself into a bank. As a result, they got $5 billion of the TARP funds through…
Welcome to 2009. For the past couple of weeks, I’ve been posting reasonably frivolous bits and bobs, but now to the serious question: what’s in store this year? For most, 2009 is fairly obviously a year of rationalisation and implementation. Rationalising the issues that led to Lehmans collapse and implementing ways to create liquidity. Rationalising…
Just before Christmas Sir John Gieve, Deputy Governor of the Bank of England, was widely reported as saying that the Bank of England completely missed out on forseeing the crisis of 2008. The reports were based upon an interview Sir John gave for the BBC's Panorama series, which aired on 22nd December. In the programme,…
Just before Christmas Sir John Gieve, Deputy Governor of the Bank of England, was widely reported as saying that the Bank of England completely missed out on forseeing the crisis of 2008. The reports were based upon an interview Sir John gave for the BBC's Panorama series, which aired on 22nd December. In the programme,…
The Wall Street Journal published the original submission to the SEC by analyst Harry Markopolos in 2005, following his claims of 1999 that Bernie Madoff was running a Ponzi scheme. A few highlights: "I am the original source for the information presented herein having first presented my rationale, both verbally and in writing, to the…
The Wall Street Journal published the original submission to the SEC by analyst Harry Markopolos in 2005, following his claims of 1999 that Bernie Madoff was running a Ponzi scheme. A few highlights: "I am the original source for the information presented herein having first presented my rationale, both verbally and in writing, to the…
