Screaming and Shouting

Banking, computers and perpetual crisis

Paying for extreme weather: Big Oil and Big Legal

hurricane irma

Over my toast and marmite this morning, listening to the radio, I heard reports of the devastation caused by hurricane Irma (taking over after a few weeks from its older brother Harvey).  Then an Oxford Professor called Myles R Allen came on and announced new research that can – via climate science – pin the blame on specific companies

To quote the Kaiser Chiefs: I predict a riot.

Continue reading “Paying for extreme weather: Big Oil and Big Legal”

Next Crisis Cup: Runners and Riders


With the newspapers full of articles describing the onset of the Great Financial Crisis ten years ago (a few weeks late in my view), I’ve also started to see articles speculating on what will cause the next one.

So, for your guide and entertainment in this, the tedious heart of summer, I present the runners and riders along with some helpful odds.
Continue reading “Next Crisis Cup: Runners and Riders”

Ten years since The Top


There will be lots of articles this summer and autumn about the start of the Great Financial Crisis ten years ago.  But when did it actually kick off?  What was the precise date? In my view, it was ten years ago today: July 12th, 2007.

My reason for choosing this particular date?  The Rolling Stones, downgrades and CVIX.

Continue reading “Ten years since The Top”

Cladding and Crisis


This is a post about fire and regulation. But don’t worry finance fans, I get on to money and crisis eventually. The parallels between fire and finance are rather striking. Disturbing, too.

Continue reading “Cladding and Crisis”

Suffering from Qatar: recapitalising banks


Even in a week when there are plenty of other stories (poorly executed terrorism, Brexit negotiations, scandalously flammable buildings, hung parliaments) the news that four Barclays executives are being charged with fraud has made the front pages today.

Continue reading “Suffering from Qatar: recapitalising banks”

Safety Limits: Traffic and Terrorism


This post starts with a speeding fine and ends with a famous quote from Benjamin Franklin. In the middle there’s some stuff about terrorism where you might agree with me.   Alternatively, I might very well piss you right off.

You have been warned.

Continue reading “Safety Limits: Traffic and Terrorism”

Robin Hood and the Golden Goose


There’s an election coming up in the UK, as those of us who live here will no doubt have noticed. I’ve even stooped to mentioning it in this blog. My aim is not to be party political in these posts, but, given my blog’s emphasis on finance, there is one policy that I think I can comment on.

We need to talk about the Robin Hood tax.
Continue reading “Robin Hood and the Golden Goose”



If you read this blog you’ll know that I’m interested in finance. But I’m also a bit of an art fan. A couple of headlines in the last week or so have made me think of the two subjects together.

Continue reading “Pics’n’Vix”

Need a quote in Florin/Groat: medieval FX and interest rates


A new paper shines a light on medieval finance.

Conclusion?  It operated in ways that are very familiar.

Continue reading “Need a quote in Florin/Groat: medieval FX and interest rates”

Theresa’s American option


Before I retired I was an option trader for 24 years. Unfortunately it makes me think about the world in a slightly cockeyed way: it always gives me innocent delight to see people behaving in a way that is in line with option theory.

Continue reading “Theresa’s American option”

LIBOR lowballing – the story’s snowballing

Snow ball

As the BBC dig up new evidence, we haven’t seen the end of the LIBOR story.

Continue reading “LIBOR lowballing – the story’s snowballing”

Bull Bias Behaviour


Daniel Drew, 1797-1879: ‘He who sells what isn’t his’n, must buy it back or go to pris’n’

Hearing odd things about finance very rarely surprises me any more, but today I was told something that did take me aback and which might, I think, have some bearing on the behaviour of markets.

Continue reading “Bull Bias Behaviour”

I am happy, hope you’re happy too: Happiness and economics

Hand drawing unhappy and happy smileys on blackboard

The measurement of happiness has become vogue in economics and public policy.  But is there any real use to it, or is it just a gimmick?

Continue reading “I am happy, hope you’re happy too: Happiness and economics”

Dealers, dollars and duration


How should bankers be paid? If you’re returning to this blog you’ll know that I’ve written about this before at some length. But this time I don’t mean how much – but with what?   It’s a question that often gets glossed over.

Continue reading “Dealers, dollars and duration”

Royalty: a modest proposal


It’s not all computers and finance and suchlike technical talk in the Rodgers household.  A recent debate around the dinner table about the monarchy reached a decent level of volume too.

Continue reading “Royalty: a modest proposal”

Le Pen et Les Vols


I’ve always liked the occasional bet. This is a facet of my personality that I suppose came in useful in the old days when my day job was risking money, or managing people who were risking money.  Thinking like a trader is a hard habit to break and my thoughts have recently been turning to the French election.

Continue reading “Le Pen et Les Vols”

Something for the weekend


Enjoying a weekend off?

Let’s hope it stays that way.

Continue reading “Something for the weekend”

Cable Flash Crash? Shit happens, says BIS


The BIS have just had a crack at telling us what caused the Cable flash crash.

Continue reading “Cable Flash Crash? Shit happens, says BIS”

Spread ’em: with financial spread betting under the cosh, could sports betting be next?


It was summer 1998 and I was in a central London pub with a few friends steadily getting slightly the worse for wear while watching a game of World Cup football on a big flat screen TV. What the game was, I can no longer recall. But I distinctly remember one thing about it: I was long corners in my spread betting account.

Continue reading “Spread ’em: with financial spread betting under the cosh, could sports betting be next?”

From videotapes to cryptocurrencies – another lesson from history



A lesson from the 1970s may be instructive when thinking about which cryptocurrency will win.

Continue reading “From videotapes to cryptocurrencies – another lesson from history”

Blog at

Up ↑