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…
One reader asked me to look at long-term answers to the banking crisis rather than short-term, after my blog the other day. I will provide a more in-depth answer to this question on January 5th when I make my predictions for 2009. Right now, it needs the full backdrop to answer that question by reviewing…
One reader asked me to look at long-term answers to the banking crisis rather than short-term, after my blog the other day. I will provide a more in-depth answer to this question on January 5th when I make my predictions for 2009. Right now, it needs the full backdrop to answer that question by reviewing…
I've been enjoying an email exchange today with someone who spotted my write-up in the Parliamentary Brief promoting the idea of a bank shareholder guarantee scheme. This reader picked up on my definition of Tier 1 Capital, which is a critical aspect of bank solvency under Basel II. He asked about the definition of Tier…
In his comments to the Treasury Select Committee's enquiry into the crisis yesterday, the Governor of the Bank of England, Mervyn King, said that banks should avoid lending and weakening their capital base individually but that, collectively, this could seriously damage the economy: "Individually, it makes sense … to behave defensively and reduce the size…
In his comments to the Treasury Select Committee's enquiry into the crisis yesterday, the Governor of the Bank of England, Mervyn King, said that banks should avoid lending and weakening their capital base individually but that, collectively, this could seriously damage the economy: "Individually, it makes sense … to behave defensively and reduce the size…
At this time of year, I always spend a while reviewing the year that has passed. Last year, I lingered over discussions that reviewed retail banking, capital markets and payments. To be honest, I don’t need to do that this year as the year has been over-shadowed by one thing: SURVIVAL Can the bank make it…
At this time of year, I always spend a while reviewing the year that has passed. Last year, I lingered over discussions that reviewed retail banking, capital markets and payments. To be honest, I don’t need to do that this year as the year has been over-shadowed by one thing: SURVIVAL Can the bank make it…
At this time of year, I always spend a while reviewing the year that has passed. Last year, I lingered over discussions that reviewed retail banking, capital markets and payments. To be honest, I don’t need to do that this year as the year has been over-shadowed by one thing: SURVIVAL Can the bank make it…
In one of President-elect Barack Obama's first moves into sorting out the mess of the financial industry in America, he has chosen Mary Schapiro to be new Chair of the Securities and Exchange Commission (SEC). Ms. Schapiro is known as a tough regulator but, by some, is also seen as an industry insider who will…
