Tim Geithner fails the Jon Stewart stress test (Daily Show extended interview video)

Jon Stewart was exasperated by Tim Geithner's analysis

Whilst up to 10 million home owning Americans continue to face foreclosure as a result of the irresponsible and predatory bank lending that characterised the period up to the Lehman’s bankruptcy, the banks that caused the crash are once again in … Continue reading

How banks have hoodwinked you over high frequency trading (video)


I have just heard one of the poorest interviews on the subject of high frequency trading that I have had the misfortune to come across on the usually excellent Today programme on BBC Radio 4. The interviewer, Evan Davis, had the … Continue reading

Strong regulation is why the Canadian banking system has had no financial crises in 150 years (video)


I promised in a recent post (If Robert Peston thinks that it’s time to stop bashing the bankers he’s wrong) to show you that an innovative, stable and fully functional financial system that avoids regular (or any) crashes is possible.  The United States (and consequently most of … Continue reading

If Robert Peston thinks that it’s time to stop bashing the bankers he’s wrong (video)


On 30 November, Robert Peston published an article on BBC Online that made my stomach churn.  In the article, entitled “New City same as old City?” Peston reported on two significant news stories of the day. The first was about the … Continue reading

Are investment banks run for employees or shareholders?


  Banks and bonuses Going overboard Investment banks have a long history of providing huge rewards for their employees and managers at the expense of shareholders returns.  This fact has been studiously ignored by regulators, legislators and even shareholders themselves … Continue reading