The ex-CEO of Barclays is not quite like the chairman who stepped down on Monday with a statement taking full responsibility for the interest rate fixing scandal.  The ex-CEO apparently spent a good bit of time yesterday before a British parliamentary committee spreading the blame for the failure to traders, to regulators and to anyone […]

Posted on July 5th, 2012 by admin
Filed under: Uncategorized | 183 Comments »

This is an revealing story.  Wall Street firms are moving back office jobs out of Manhattan to lower cost venues.  It has been happening for a long time but it might be accelerating.  Like it or not, the city’s tax base depends on middle class jobs in the finance industry, the last great business of […]

Posted on July 3rd, 2012 by admin
Filed under: Uncategorized | 193 Comments »

The chairman of Barclays PLC is gone and the CEO may be next.  This is the result of an interest rate fixing scandal that has convulsed the leadership of the bank and cost Barclays $453 million in fines.  The chairman said accurately that the failure has dealt a “devastating blow” to the bank’s reputation.  There […]

Posted on July 2nd, 2012 by admin
Filed under: Uncategorized | 188 Comments »