Tag: Adair Turner

  • FORMER C.O.O. OF BARCLAYS, JERRY DEL MISSIER’S HEARING, BEFORE A BRITISH PARLIAMENTARY SELECT COMMISSION

    Translated from the French by Tim Gupwell

    Up to now in the LIBOR affair, the witness statements before the parliamentary select committee have essentially seen everyone lying to protect their own interests. The inevitable result is a sort of cacophony, compounded by strategy changes half-way through, which was particularly the case for Bob Diamond, former Chief Executive of Barclays, who one day sought to bring down with him Paul Tucker, Vice-Governor of the Bank of England, only to attempt the following day to absolve him of any responsibility, with the catastrophic result you can easily imagine.

    As for the officials, … Read the rest

  • Kerviel’s trial in France: the question no one is asking…

    An English translation of Kerviel: la question que personne ne pose posted on my French blog on June 21st. Many thanks to E-blogs for the translation.

    What have we learnt so far from Jérôme Kerviel’s trial about the big questions? Do his superiors know more they pretend about the transactions he was doing? Another question we would like to know the answer: is entering fictive operations in the reporting system to hide his positions –as Kerviel says– a common manoeuvre in the traders’ world?

    Is it because I had the opportunity to be a trader on futures markets that I … Read the rest