Jerome Kerviel has just been convicted and sentenced in Paris. Mr Kerviel was the trader at the centre of the Societe Generale wobble in January 2008. This was the event that provided the first hints that things going wrong in the US might hit Europe. Of course, it was completely unrelated, but we didn’t know […]
Last night I was fortunate enough to put my waiting to an end and go to the movies to see the new Wall Street film – Money Never Sleeps. Clearly, I am a financial buff, so loved the original and frankly, I enjoyed this follow up as well. It may not turn out to have […]
Earlier this week, I was able to interview one of the key players and thinkers on the European Commission team for financial reform as a part of the ‘day job’. As mentioned here, David Wright, Deputy Director of DG Internal Market and Services, is one of the most public voices right now on the direction […]
This story from CNN shows just what denail the United States is in when it comes to Wall Street, financial services, money and reputation. According to the story, it seems that confidence in Wall Street is ‘on the line’. Which line would that be? Perhaps it is the final line that an economy will not […]
In a story on the BBC today, Lord Myners, Minister in the Treasury (UK), warns that HFT (otherwise known as high-frequency trading) could put large corporations at the mercy of automated speculators. He is probably right. Much of the blame for the stock market drop in 1987 lies at the door of automated trading programs. […]
The CNN story here shows just what a mess the banking sector is in. The sad thing is that the list of 250 banks ‘in trouble’ is only in the USA. When I clicked on the link, I was rather hoping that it was a global list. Perhaps it was less hope and more blind […]
I found this on YouTube and thought I’d share it. It relates to the stock market crash and is super interesting – footage that takes us back in time. There are some parallels here for sure!