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Stanley Epstein

The financial crisis and operational risk management

As a committed operational risk professional, I cannot help but stare in amazement amidst all the financial ruin and desolation that surrounds us. There has been a lot of hand-wringing and pronounceme...

29 Dec 2008
Innovation in Financial Services
Iosif Itkin

Crisis exposes banks' weaknesses towards ERM vendors

Comparing Ernst & Young figures against PRMIA Global Risk Survey results (http://www.prmia.org/globaleventseries/news/20080618.html) Ernst & Young Enterprise-wide risk-reporting process is in ...

19 Dec 2008
Paul Penrose

If it looks too good to be true, it probably is

Henry Blodget, the former star techstock analyst who knows a thing or two about investment fraud, posts an interesting insight to the Madoff affair on his Clusterstock blog. "Specifically, we're...

19 Dec 2008
Retired Member

Gold. Now.

The status of gold changed yesterday December 16th when the Fed slashed rates to zero or near zero. Gold lost the remaining of its commodity status for a full investment status. Can gold evolve back t...

18 Dec 2008
Paul Penrose

Bernie Madoff's take on over-regulation on Wall Street

Some choice quotes from squeaky-clean Bernie Madoff on the trials of doing business in the modern financial system. "Whenever I go down to Washington and meet with the SEC and complain to them th...

18 Dec 2008
Video extravaganza
Retired Member

Credit Reports - A Tax By Another Name

I've never received a letter quite like the one I received, over the weekend, from one of my credit card providers. It started with the sentence "Please sign and return the attached application ...

16 Dec 2008
Transaction Banking
Richard Barr

Is it really all doom and gloom?

I just had a friend phone me to tell me that after almost 12 years at the same firm, he's being laid off. I had another friend phone me yesterday to tell me how horrible his job is now. A couple weeks...

15 Dec 2008
Retired Member

Forcing Banks to Lend Part 3

If anyone needed convincing that interfering with 'proper' lending decisions by forcing banks to lend makes things worse, they need only look at the latest HBOS numbers. Huge increases in bad debts f...

12 Dec 2008
Transaction Banking
Elton Cane

Linking investment bank remuneration to risk assumption.

Earlier this week The Guardian had an interesting piece on the bonus culture at investment banks. The Financial Services Authority has written to the chief executives of major firms to urge them to r...

12 Dec 2008
Innovation in Financial Services
Gary Wright

SEPA; a spectacular failure of misunderstanding

Despite what you hear and read about SEPA it is a fact that it has failed to achieve any notable volume since it went live. At a recent conference chaired by yours truly a number of eminent speakers f...

12 Dec 2008
EBAday
Keith Bear

Frankie does VaR

On perusing an email from Lepus some weeks ago I was struck by the title of one piece of their research "VaR, what is it good for!" Having been involved in working with several banks on mark...

01 Dec 2008
John Cant

The multi-faceted impact of Lehman

The demise and subsequent break up of Lehman Brothers will provide strong case study material for many MBA courses, for many years. There are several lessons to be learnt beyond the crucial role of cu...

30 Nov 2008
MiFID