Standard and Poor vs Greece

Does anyone else think its a bit rich of Standard and Poor to be continuing to pass judgement on countries, given their pretty disasterous recent judgement.

I really wonder why anyone still values their judgement - they've been shown to be, putting it kindly, partisan. For all we know one of their clients (maybe even Goldman Sachs) has an interest in seeing Greece's credit rating fall.
The conflicts of interest issue has still not been addressed, meanwhile the fate of millions of Greek are affected

Goldman Sachs scandal causes revolt by customers

I am pleased to hear that clients have been flocking from Investment Bank Goldman Sachs following the scandal surrounding its alleged fraud.

Fabulous Fab's antics of passing off diguised dodgy investments as high quality and then getting his mates to bet on them crashing is once again another example of the disgraceful behaviour of the banks over the last few years.

Pensions reverse - as predicted

I'm pleased to see that my predictions about pension schemes has come true.
Back in December I commented on an EY report that claimed that companies should scrap their final salary pension schemes on the basis of short term deficits for some of them

I didn't expect it to be so quick, however asset values have stablised and increased in the 12 month period, and bond prices too

FT Bankers peom - a sea shanty in the making

This is a copy of the FT's excellent peom - I'd love it someone would put this to music - perhaps a piratey sea-shanty would be appropriate!

There was a time when naughty boys
Would have to forfeit all their toys,
And go to bed without their food
To force a new, repentant mood
Upon the wretched little toads,
Who flouted our great social codes.


Nor was blind arrogance a trait
That parents liked to inculcate.
They had regard for social graces:
Not for their offsprings’ haughty faces.
A beastly child engaged in folly
Would surely have to say: “I’m sorry!”

Same old RBS crap! Extra-ordinary resolution at an AGM or EGM please!

Well it seems that the gun-to-the-head bully-boy tactics of the investment banking community have returned again.
Using the same old scare-mongering tactics - out best and brightest need to be paid this in order to stay.

Bankers - a word of praise

I have been pretty harsh about some bankers in my recent posts. I feel I should explain my position before someone rants back at me.

There are a great many bankers out there who do an excellent job and provide a vital function within society (however like almost all walks of life there are also the lazy, stupid or otherwise useless ones as well).
The credit crunch was not caused by the majority who have diligently assessed the credit worthness of businesses and individuals alike and leant either responsibly or have been forced by market conditions to lend at the slightly riskier end.

Excuse Me Whilst I Step Outside: Banks : Too Big Too Ignore

Excuse Me Whilst I Step Outside: Banks : Too Big Too Ignore

This is an interesting read - worth checking out