Giles Cadman

by Giles Cadman Senator Elizabeth Warren is asking very difficult questions about how big banks have avoided prosecution. The regulators she is questioning are having a difficult time explaining why they have not proceeded with criminal prosecutions as a result of the global financial crisis. At Warren’s first Banking Committee hearing in February, she asked […]

by Giles Cadman Too big to fail meant the government became the backstop of large financial institutions. When these institutions looked like failing through high risk financial practices, governments were forced to take ownership positions in these institutions.  Governments have been loathe to allow this to repeat, with the United States government instituting a series of […]

by Giles Cadman In the ongoing fallout from the Global Financial Crisis HSBC has settled with US regulators over its foreclosure businesses alleged breaches. HSBC became the latest bank to settle with federal regulators over alleged foreclosure abuses on Friday, agreeing to provide $249 million in cash compensation and other assistance to borrowers. Under the […]

by Giles Cadman As one of the few people who predicted the financial crisis with a degree of accuracy Nouriel Roubini is always worth reading. His views on QE3 are fascinating. NEW YORK – The United States Federal Reserve’s decision to undertake a third round of quantitative easing, or QE3, has raised three important questions. […]

by Giles Cadman – Venulum One of the worlds largest banks is in trouble for alleged money laundering. Money laundering always creates negative connotations, and it is hard to believe that HSBC were deliberately money laundering. The bank is being investigated over possible violations of the US Bank Secrecy Act. HSBC also said that it […]