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A place to share stuff that isn't at all fintec related but is amusing, absurd or scary.
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Retired Member
Seeing everyone in the office is either calling in loans, asking for credit, twiddling their thumbs, or contemplating a career change, perhaps board members should pick the name of another bank out of a hat (in the likely event they fail to reach a consensus), and arrange a meeting with their opposite members, sign some NDA's and peruse each other...
11 October 2008
I have tried to remain positive in the midst of this crisis. I see no decisive action, from either the banks or the leaders. I look around, I hear the buzz. The banks are panicking now. The banks are calling in their loans - even those of their best and safest customers. Shooting themselves in the foot. The rot has gone too far. If even the most we...
10 October 2008
It's stick together or perish, and certainly don't be the odd man out. As I warned earlier in the year, it's a team effort that got us here and it'll take a team effort to fix it. Mavericks may end up playing in their own league, alone. That goes for governments too. Perhaps a recap. or is it a re-capitalisation we need. The only thing different be...
Paul Penrose Head of Research at Finextra
The credit crunch is no laughing matter, but as any psychologist will tell you, laughter is a way of dealing with extraordinary events that challenge our system of beliefs. So, in the interests of good mental health, here's a selection of some of the best gags currently doing the rounds. Q: What is the definition of optimism? A: An investment banke...
10 October 2008 /retail /wholesale
The 'public' are often given less credit than they deserve. Becoming a victim of identity theft or fraud really ruins the day of the average consumer, and word gets around. I wouldn't be surprised that the combination of recent events and growing trends might give rise to a new more militant and discerning consumer, but I could easily be wrong on ...
07 October 2008
Learning from the lessons in the US, and signalling the direction for the UK, Australia's Reserve Bank has dropped the rate a full percentage point. The Reserve obviously decided that the punters wouldn't be too happy if the bankers got to keep the half percent that was hinted at. The word was out that the banks were keeping the rate cut to cover '...
One thing I recollect from the Great Depression (through the eyes of my grandfather) is that cash was king. Fortunately he taught me how to catch and skin a rabbit, which apparently may become a useful skill again. Will we see a trend to return to cash? 'Glitches' in electronic transaction systems may not inspire confidence in a nervous market. I ...
06 October 2008 /payments
Recent privacy issues are still in the spotlight with the admission by Ebay-owned Skype that they were searching text messages for keywords for the Chinese government, storing user chat sessions and the personal records of millions of people on easily accessible computer systems. After Yahoo's faux pas, Google's keystroke-logging and tracking of i...
05 October 2008
I can see the reasoning in very large hedge funds being seen as contrary to those who would like to see more orderly markets. In our endless quest for 'reasonably' orderly markets traders need some disorder in order to profit. Be it provided by war, weather or prosperity, unless you're in it for the share earnings, the long haul, then you're in
04 October 2008
I think that it's actually a return to sensibility. 'Venture capital' is a term which has been loosely used for any half-pot idea with a funny sounding name and no revenue model. More like fantasy adventure capital. We saw a whole raft of adventurers hoping to create internet businesses with no revenue model, relying solely on the ability to get ey...
03 October 2008
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