Monthly Archives: July 2012

holding out for holder to prosecute libor liars

“Tim Geithner had evidence of a financial crime of epic proportion — so he wrote a memo,” quipped Charles Gasparino in the New York Post yesterday. This one-sentence observation of Geithner’s inaction in the face of concrete evidence of  Libor-rigging is perfect. It captures well how certain of the banking regulators continually enable fraud and…

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the operational hazards of everyday banking

The Irish Times is running a story today that provides a perfect example of why large, highly interconnected financial institutions can unexpectedly become very dangerous. Titled “Ulster Bank counts the cost of catastophic IT meltdown,” the report describes the misery being experienced by Ulster Bank’s customers and management as a result of a bungled software…

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has the great big bank die off begun?

Bob Diamond and Jamie Dimon are two of the best bankers America has ever produced, and JP Morgan Chase and Barclays are among the great banks of the world. These facts might be lost in the current cacophony of public debate, yet their records of achievement are undeniable and generally admirable. That both proud financial…

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pareto redux

To anyone who has noticed that theParetoCommons has been dormant during the past six months I owe an explanation for the hiatus and my thanks for bothering to read this post after so much time. (Indeed, were it not for Jennifer’s boundless energy, the gap in time would be nine months, not six.) A number…

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