Uh. It will never happen, my friend(s). Not that I care, anyway. Finance and that. I've got different fish to fry. / However, there is a new book. And there is a PR email.
A new book publishing March 2019 provides a clear and documented account of the manipulation of LIBOR (the London Interbank Offered Rate), the foreign exchange (FX) market and the London Gold and Silver Fixes.
Er ... it's the end of March now. And what's a new book publishing? Never mind.
To achieve this aim, Holding bankers to account by Oonagh McDonald CBE maps out how it was possible for such price fixing to take place over so many years as a consequence of weak systems and controls within major banks.
Oh, right. Holding bankers to Account. With a capital A, actually. 'You didn't use a capital A in your title, boss.' So? That was my title, the title of this post, not the book title, which is also ... Holding Bankers to Account. Oh, with a capital B, too! They missed the capital B! 'Who missed the capital B?!' The PR firm. Never mind.
The book also draws attention to the potential conflicts of interest that went unrecognized for years and how compliance officers were at best ineffective and at worst collusive.
Oh dear. Such is life. I'll tell you the truth, dear reader(s), I've given up being shocked, you dig?
Towards the end of Holding bankers to account, the author sets out the reforms that followed the scandal, yet asks why so little is understood about the nature of these reforms, and whether this increase the likelihood of further manipulation. The book argues that final steps need to be taken if the banks are to completely reform themselves, including mandatory changes both in corporate governance and in the structure of systems and controls set out in the UK's Senior Managers Regime. It is only when senior managers are made individually responsible that the reforms outlined will come into force.
Okay, okay. I can't see finance being completely reformed, myself. / On a more positive note, I doubt the human race will last another two hundred years, due to climate change, environmental damage, food and water shortages, future wars, etc, etc. 'Christ! Did Oonagh say that?!' No, no, Voice. I did.
I'll just finish with this -
"Oonagh McDonald has produced another forensic inquiry into the workings of the financial markets. Her deeply researched book into misbehaviour on the part of banks and other institutions in the LIBOR and FOREX markets deserves to be read by everyone concerned with well-behaved markets. As in her books on Lehman Brothers and on Fannie and Freddie, she throws new light on a subject we thought we knew well." Lord Meghnad Desai, Emeritus Professor, London School of Economics.
Nice one! Good luck with the book, Oonagh!
...
Anything else? Music? My music? Will I try recording again tomorrow night? Who knows?! Not I! 'Ha, ha, ha!' Yeah, yeah.
Later(s), kook(s)!
A new book publishing March 2019 provides a clear and documented account of the manipulation of LIBOR (the London Interbank Offered Rate), the foreign exchange (FX) market and the London Gold and Silver Fixes.
Er ... it's the end of March now. And what's a new book publishing? Never mind.
To achieve this aim, Holding bankers to account by Oonagh McDonald CBE maps out how it was possible for such price fixing to take place over so many years as a consequence of weak systems and controls within major banks.
Oh, right. Holding bankers to Account. With a capital A, actually. 'You didn't use a capital A in your title, boss.' So? That was my title, the title of this post, not the book title, which is also ... Holding Bankers to Account. Oh, with a capital B, too! They missed the capital B! 'Who missed the capital B?!' The PR firm. Never mind.
The book also draws attention to the potential conflicts of interest that went unrecognized for years and how compliance officers were at best ineffective and at worst collusive.
Oh dear. Such is life. I'll tell you the truth, dear reader(s), I've given up being shocked, you dig?
Towards the end of Holding bankers to account, the author sets out the reforms that followed the scandal, yet asks why so little is understood about the nature of these reforms, and whether this increase the likelihood of further manipulation. The book argues that final steps need to be taken if the banks are to completely reform themselves, including mandatory changes both in corporate governance and in the structure of systems and controls set out in the UK's Senior Managers Regime. It is only when senior managers are made individually responsible that the reforms outlined will come into force.
Okay, okay. I can't see finance being completely reformed, myself. / On a more positive note, I doubt the human race will last another two hundred years, due to climate change, environmental damage, food and water shortages, future wars, etc, etc. 'Christ! Did Oonagh say that?!' No, no, Voice. I did.
I'll just finish with this -
"Oonagh McDonald has produced another forensic inquiry into the workings of the financial markets. Her deeply researched book into misbehaviour on the part of banks and other institutions in the LIBOR and FOREX markets deserves to be read by everyone concerned with well-behaved markets. As in her books on Lehman Brothers and on Fannie and Freddie, she throws new light on a subject we thought we knew well." Lord Meghnad Desai, Emeritus Professor, London School of Economics.
Nice one! Good luck with the book, Oonagh!
...
Anything else? Music? My music? Will I try recording again tomorrow night? Who knows?! Not I! 'Ha, ha, ha!' Yeah, yeah.
Later(s), kook(s)!
