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This was the shock headline in London's largest newspaper, the Evening Standard, yesterday.  In their free sister paper, London Lite, the short version of the article read: "AMEX at 46%?   No, that won't do nicely! "AMERICAN Express has increased the cost of borrowing on one of its credit cards to 46 per cent – more…

Interesting conjecture over at the Financial Times that Dame Clara Furse, CEO of the London Stock Exchange, will be succeeded by an outsider.  Two top names in the frame are Alasdair Haynes, Chief Executive of broker ITG; and Bob Wigley, the departing European Chairman of Merrill Lynch. This is based upon the trend to pick…

Interesting conjecture over at the Financial Times that Dame Clara Furse, CEO of the London Stock Exchange, will be succeeded by an outsider.  Two top names in the frame are Alasdair Haynes, Chief Executive of broker ITG; and Bob Wigley, the departing European Chairman of Merrill Lynch. This is based upon the trend to pick…

Of the 287 institutions receiving funds from America's Troubled Asset Relief Program (TARP), Citigroup heads the list at #1 with $45 billlion, ahead of AIG and General Motors (General Motors?), according to ProPublica: 1) Citigroup – $45 billion 2) AIG – $40 billion 3) JPMorgan Chase – $25 billion 4) Bank of America (incl. Merrill…

Of the 287 institutions receiving funds from America's Troubled Asset Relief Program (TARP), Citigroup heads the list at #1 with $45 billlion, ahead of AIG and General Motors (General Motors?), according to ProPublica: 1) Citigroup – $45 billion 2) AIG – $40 billion 3) JPMorgan Chase – $25 billion 4) Bank of America (incl. Merrill…

Of the 287 institutions receiving funds from America's Troubled Asset Relief Program (TARP), Citigroup heads the list at #1 with $45 billlion, ahead of AIG and General Motors (General Motors?), according to ProPublica: 1) Citigroup – $45 billion 2) AIG – $40 billion 3) JPMorgan Chase – $25 billion 4) Bank of America (incl. Merrill…

I can't get rid of all the holiday season frivolity without a timely reminder of what banking is all about: Thanks to Disney and Mary Poppins for cheering my family over the last two weeks and for this song in particular. I particularly love the bit towards the end where Dick Van Dyke – yes,…

A final posting for 2008 … and I thought it would be interesting to look at the major market indexes. Now you may find this depressing, but it's not. Let me show you what I mean: America’s Dow Jones industrial average dropped by over a third (33.84% to be exact), the biggest fall since 1931,…

A final posting for 2008 … and I thought it would be interesting to look at the major market indexes. Now you may find this depressing, but it's not. Let me show you what I mean: America’s Dow Jones industrial average dropped by over a third (33.84% to be exact), the biggest fall since 1931,…