Tag Archives: UK Treasury
Nonsense on bank pay
Antony Jenkins, who replaced Bob Diamond as chief executive of Barclays Bank during the Libor scandal, says that Barclays should be seen as a bank that is “doing well financially and behaving well”. Now Sir David Walker, the urbane chairman (and G30 alumni) and Jenkins hope that by revealing the numbers earning more than £1…
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Keynes, Mundell and The Money Trap
Most economic commentary, such as that of Roubini, falls into this category (see Diary of 21/11/12). The “analysis” amounts to saying: “Oh, what a mess we are in!” We knew that already. Some vary their message by claiming to detect chinks of light in the gloom. Others conclude by saying things like, “If only the…
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The governor stakes revisited
I have mentioned the familiar names – Tucker, Vickers, Turner, Burns. Of these Paul Tucker has the deepest grasp of the issues the new governor will confront, and he is getting encouragingly more radical on bank reform – like everybody else. Even Lord Turner has been asking questions about the whole viability of fractional…
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New entry to Bank of England governor stakes
My apologies to subscribers who – following my tip – have placed bets on Gus O’Donnell to be next Bank of England Governor (RP’s Diary 14/09/12). They might lose their money. How did I come to overlook the irresistible charms of (Lord) Terry Burns? Terry is a pukka economist who followed a respectable academic…
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Can London lead a financial rebirth?
The reputation of the City of London has been badly damaged, however the LIBOR affair turns out. People will inevitably ask, who knows what other kinds of criminal or near-criminal activity have been taking place? Would the LIBOR attempted price fixing have come to light without those incriminating emails? What other forms of collusion are…
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