Stanley Epstein Associate at Citadel Advantage Group
Why is it that the minute something goes wrong someone or something has to be blamed? It almost seems that as long as a "guilty" party can be found then we have done our duty and can simply forget about the problem ... until the next time. This is currently the case in point in the brouhaha in the United States around the perceived failur...
31 July 2008 /regulation /wholesale
Retired Member
Italian securities depository Monte Titoli has hit back at implications that it is being difficult and hindering new upstarts that are trying to enter the Italian market. Turquoise CEO Edi Lederman said in a note to members that the Italian securities depository "will not allocate resources" to cooperate with its own clearing provider Eur...
30 July 2008 /regulation
Sriram Natarajan Risk Dog at Credit Risk Fraud Cards Professional
It is amusing to see how the banking industry is snorting in relief that Citi Bank declared a 2Q 08 loss of 'only' $ 2.5 Billion. Things have come to such a pass that a bank like IndyMac going under has only elicited marginal interest. Just as social scientists declare '40 is the new 30', the banking gurus seem to say 'Billion is the new million'...
20 July 2008 /regulation /retail
I imagine there's a bit of fund juggling going on at banks across America. Given that only the first $100k is covered by federal deposit insurance it would be wise to spread your cash across a number of financial institutions to maintain insurance coverage in the event of a collapse of an individual institution. Australia is not immune to the rec...
15 July 2008 /regulation /retail Whatever...
I was reading this new report by US DOJ on how digital currencies are increasingly popular with money launderers(or is it laundries?) - http://www.usdoj.gov/ndic/pubs28/28675/index.htm The DOJ notes that digital currencies 'combine the intrinsic value of gold and other precious metals as well as the designated value of national currencies with the ...
11 July 2008 /payments /regulation
With the global food crisis raging on, it is time for countries and international organisations to think of creative ways to address the issue. Giving free rations is not a viable economic answer. Consumers reeling from price hikes don't need food aid; they need assistance on the pricing. One of the common solutions to address food inflation is i...
09 July 2008 /payments /regulation
The issue of customers being held liable for their losses if they don't have the latest antivirus and personal firewall installed is ridiculous when we see bank's sites with major security flaws that still leave their customers vulnerable regardless of which personal anti-virus or firewall software they use. The banks are the ones with the flaws a...
01 July 2008 /regulation Online Banking
Gasoline (or Petrol - depending on which side of the Atlantic you are) prices are biting so hard now that gas station owners and consumers are planning a rally to demonstrate their grievances. See press release http://www.prweb.com/releases/Gas/MasterCard/prweb1063174.htm Looks like oil prices are so pervasive in our lives that we can trace almost ...
01 July 2008 /payments /regulation
I am intrigued by the number of conferences and events on 'greening of financial services'. Unless I got it wrong, I am not sure if financial services is on the top 10 list of industries contributing to global warming. However, I am sure banks can contribute to 'carbon credits' by encouraging electronic access and cutting down on the tons of state...
22 June 2008 /security /regulation
A single gas facility explosion has brought Australia's economic boom to a halt and many thousands of businesses face bankruptcy in the next 6 months. Despite numerous national infrastructure, terrorism risk and other well funded studies, reports and committees the government has failed completeley to ensure integrity of the country's infrastructu...
20 June 2008 /regulation Whatever...
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