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Screaming and Shouting

Banking, computers and perpetual crisis

Ten years since The Top

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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.

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Cladding and Crisis

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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.

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Suffering from Qatar: recapitalising banks

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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.

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Safety Limits: Traffic and Terrorism

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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.

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Robin Hood and the Golden Goose

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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.
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Pics’n’Vix

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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.

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

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Like many people, I suspect, I tend to think of finance as having been invented in my lifetime. How could finance be finance without computers? How could finance be finance without the comforting framework of Black-Scholes? But, of course, mankind has been using money for millennia – very little in the world of finance is ever really new. That is certainly true of FX and interest rates – as a fascinating and brand new academic paper shows [1].
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Theresa’s American option

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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.

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LIBOR lowballing – the story’s snowballing

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It’s coming up to the 10th anniversary of the start of the Great Financial Crisis, but its aftereffects are still with us. For one thing, I think it’s plausible to say that Brexit and the election of populists like Donald Trump are a direct consequence of the Crisis. Another effect is the continuing pursuit of those considered to have been responsible for the mess: hence the sequence of investigations. But the story around LIBOR – probably the most serious of these post-Crisis scandals – just got a lot more complicated.

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