Category Archives: credit crunch

Obituary news

The man ultimately responsible for the global economic meltdown has died.

Posted in credit crunch, Uncategorized | 4 Comments

Which celebrity caused the credit crunch?

Yahoo asks, "did David Bowie cause the credit crunch?" by suggesting that banks took the idea of securitisation – bundling rights to payment and selling them on - from him, after his Bowie bonds in 1997 As my regular reader will know the … Continue reading

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Of Lloyds TSB, HBoS, and how lenders raise money – a note for parliamentary candidates

My previous post referred to SNP candidate Calum Cashley and his assertions on the question of bank finance and I apologise for returning to this – but it’s Jeff’s fault for reasons explained here.  The story so far is that Mr Cashley asserted – in … Continue reading

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Bank securitisations – A reply to Calum Cashley

Yesterday evening around 8 pm I posted a reply to a comment in a blog post by Calum Cashley, the SNP candidate for Edinburgh north and Leith.  22  hours later Mr Cashley has not moderated my comment, and hence has not published it on … Continue reading

Posted in credit crunch, economy, scottish politics, Uncategorized | 3 Comments

Protected: Scottish banking – locked post. Some politicians should learn when to shut up

There is no excerpt because this is a protected post.

Posted in credit crunch, foolish politicians, Uncategorized

Scottish banking

"Perhaps it was worth being poor for a long time to be so rich for just a little while." JK Galbraith, The Great Crash 1929, p 68 (1975 edition), ch III, final line.

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Don’t mention Iceland – I did once but I think I got away with it

This story has two beginnings.  The first is a tale grossly over-simplified. In the beginning there was securitisation, and the lawyers and the financiers looked on securitisation and it was good. "“The article … addresses its core question: is the securitization process … Continue reading

Posted in credit crunch, economy, scottish politics, Uncategorized | 2 Comments