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The Australian government has been threatening to make it easier for customers to switch banks and have announced their solution goes live today. I don't know about the timing, seeing nearly everyone has done a runner and switched their money to mainly Commbank, Westpac and National for some reason, that is except those thousands with their funds ...
01 November 2008 /retail
Matt White North America editor at Finextra
Sarkozy isn't the only recent high profile victim of fraudsters. Des O'Connor - British chat show host and famously bad singer - was taken for around £1000 by a shop assistant who used his mobile phone to record the entertainer's card details. After recording the details of Des and many others, Olanrewaju Apalara went online and registered the ca...
31 October 2008 /security
Steve Ellis Founder at Finextra Research
US political blog Wonkette covers the curious incident of prayers being offered to the Wall Street Bull to fix capitalism. It's all well beyond my ability to explain - but didn't the market blip up a bit later in the week? Who's to mock? btw - Wonkette fires its blog posts from the hip, without fear or favour for who they offend. So, if you are of ...
31 October 2008
While I commend IBM on their attempt to create a practical solution to online banking fraud, because we all know there is a real problem, but this device, which looks very similar in concept to something unveiled in Australia some time ago, is just another in a long line of such gadgets. It isn't that I believe it won't work, because it might for ...
30 October 2008 /security
It has been reported that the 'internet' companies Google, Microsoft and Yahoo have agreed to a set of voluntary guidelines that are aimed at reducing the risk that their actions could assist in the execution of human rights abuses in China and other countries. I didn't see any mention of how adherence to those guidelines might be monitored. In fa...
29 October 2008
While there is a danger of inflation, the alternative may be unconscionable. The problem with credit is that people don't want to borrow on, nor do lenders want to lend against diminishing assets, nor do they want to invest in companies with diminishing assets and markets. Where does is start? Although interest rates are already low in the US, they...
Forget your boring ghosts, vampires and witches, if you really want to put the frighteners on people this Halloween you need to invest in an 'evil' Hank Paulson or Ben Bernanke mask. For the bargain price of $79.90, a quick thinking online entrepreneur will make sure you terrify even the hardiest soul. But if the credit crunch means $80 is a bit o...
28 October 2008
Injecting liquidity into the 'market' (banks) is one thing, government funded projects is another, but unless the relief hits the streets, it is all for nothing. Guaranteeing A causes a run on B leading to the collapse of C. If A pays good interest, then B won't get funds when it's returns are minus, and can't invest in C and around we go...broke....
Lehman Bros employees have staged a protest by blockading the company retreat and refuse to give it up until their bank is bailed out too and they get their jobs back. See Photo:
26 October 2008
It's difficult to see much effect in the marketplace at the moment, at least not in the US. Claims are rife that banks are hoarding cash, even the cash that Treasury is handing out. There'll be some stern words and I wouldn't be surprised by stronger action when the bankers and Congress next meet. I'd be surprised if there isn't a dismissal or othe...
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