Banks

The Bank for International Settlements (BIS) is seldom discussed, but when it speaks, we ought to listen. “As an organization of central banks, the BIS seeks to make monetary policy more predictable and transparent among its 58 member central banks. While monetary policy is determined by each sovereign nation, it is subject to central and private banking […]

HSBC (LSE:HSBA) is liquidating its entire stake in Ping, an Insurance Group of China for nearly $9.4 billion (£5.84 billion). As a result of the sale, HSBC’s core tier 1 capital ratio will increase by 0.5% whilst its total capital ratio will be bolstered by 1.0%.  Those ratios as at 30 September 2012 were 11.7% […]

“What launched as the Bank of England’s great white hope risks looking like a white elephant.”  That is the assessment of Christopher Shaw, CEO of Platform Black, commenting on the Funding for Lending Scheme (FLS) taxpayer bailout of flailing and failing UK banks.  I know that “white elephant” is not a circus animal, but this […]

“We got it wrong.”  That’s what Sir Mervyn King told the House of Commons’ Treasury Select Committee as he was testifying at a hearing on the Bank of England’s November Inflation Report.  No wonder the UK banking system is in such disarray.  The bloody Bank of England doesn’t know what it is doing either. I […]

Given the events of the news released this morning, you might wonder if UBS stands for Unbelievable Banking Screw-Up. The traditional round of tea at the Monday morning UBS staff meeting was served iced as the bank got kicked in the knickers with a £29.7 million fine for failing to have adequate controls in place […]

Barely two hours ago, the UK courts found a former UBS (UBSN:VX) trader guilty of a second count of fraud.  It’s about time that some of the low-lifes who are living the high-life at British taxpayer expense start living the secluded life.   It’s about time that these pocks on the face of dignity get dragged […]

Hallelujah!!  At last!! What more is there to say??? The courts have done the right thing.  They are starting to cut out the cancer in the UK financial sector. We applaud the conviction of fraud. Full story to follow soon.

Man Group (LSE:EMG) announced this morning that it has completed negotiations with Hutchinson Investors Ltd  and has started the mechanism for selling its remaining exposure to Lehman claims that it acquired in July of 2011. At a sales price of $456 million, Man Group is selling the claims at a 32% premium to their value […]

Maybe it’s just me, but have you heard the word “fraud” used much lately?  I didn’t think so.  Neither have I.  What ever happened to it? The only thing I could think of is that it has become a so technically precise legal terminology that it is only used in legal charges, challenges, torts, and […]

According to market theory, it doesn’t really matter when you buy or sell, so long as you buy cheap and sell … not cheap! As such, I sold Enterprise Inns (LSE:ETI) yesterday. It’s 50/50 as to whether the stock will continue to go on up. Yet I was on around 140% profit, and the price, […]