The sale of Northern Rock by the Government to Richard Branson’s Virgin Money is probably the deal of the century. For Mr Branson, anyway. When Northern Rock was nationalised, it was split in two. In essence, good bank and bad bank. We, the taxpayers, still have the bad bit. It owes the Treasury £21 billion. [...]
Germany has approved new powers for the EU’s main bailout fund. This move will certainly buy time. The big question is whether the Euro will survive in its current form and what the European leaders need to do to ensure confidence returns to our financial markets. That is the backdrop for discussions over plans for [...]
The Independent Commission on Banking has published its report. It’s aspirations for our banks to compete around the world, lend to families and businesses whilst being a safe place to save are right. Sadly the conclusions and findings are wrong. If implemented in full, we’ll see less financial services operations based in the UK, fewer [...]
James on the 10 O’Clock Live Show – Channel 4 James joins comedian David Mitchell and other guests on Channel 4′s topical comedy and news show – 10 o’clock live – to discuss the problems with the country’s credit and banking system. James was asked to appear because of his knowledge of the sector.