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Archive for: March, 2009

Hugh Cumberland - Colt - London | 13/03/2009 | 2264 views | 1 comment

I am an Engineer!

There! I've said it. When all my school friends were planning careers as doctors, bank managers or Whitehall manadarins, I was taking televisions, radios, motors (and sometimes insects) apart to find out how they worked. Then I'd try and put them back together to see if they still worked, often without success (particularly with the insects). I q...

Hugh Cumberland - Colt - London | 12/03/2009 | 2654 views | 2 comments

Giant ponzi scheme uncovered

In the wake of the alleged $50bn Madoff and $8bn Stanford ponzi schemes, I have to announce that I have uncovered one that’s a tad larger. A ponzi scheme is defined as one where current withdrawals are funded by current receipts. So it would seem that the UK central and local government pension schemes with unfunded liabilities of £750... Tags: Risk & regulation, Post-trade & ops

Hugh Cumberland - Colt - London | 09/03/2009 | 2301 views | 2 comments

Where were the shareholders?

Who’s to blame for the destruction of bank shareholder equity? Those nasty bankers, with their eye-watering bonus plans? The regulators, who didn’t spot the bubble when it was blocking out the whole sky? Those self-serving politicians who oversee the regulators and maintain the health of the economic system that the bankers feed in? ... Tags: Risk & regulation, Post-trade & ops

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