"Breaches of this scale demonstrate that the safeguards currently in place are inadequate. The place, therefore, falls squarely at the foot of the person at the top. In this case the Chancellor...." by Terry B
"A rate cut is a must. Although whether it will prevent a recession is another question...." by Scott Chelsea
"What has a junior losing files got to do with the competency of the government? Do you think any government can prevent anyone from losing disks in the post? Get some sense people...." by Tom Chuck
London’s top share index FTSE ended flat on Wednesday as the share markets continued to reel under the pressures of the long-continuing credit crunch, which offset the easing effects of the $20 billion Federal Reserve auction.
UK mortgage lenders have to get ready for the likelyhood of the global credit crunch getting much worse. According to the Financial Services Authority (FSA), a tougher global financial situation has the possibility of affecting the whole UK mortgage market, in turn enhancing defaults.
The bonus prospects this year have brought despair to the staff of many leading banks. According to a study, the expecting payouts are less than the previous year.
Three of British bankers nicknamed as "Natwest Three" had pleaded guilty for stealing $7.3m (£4m) and following this they face 37 months in prison. The theft was a very sophisticated transatlantic fraud that has been associated with the decline of the energy trading behemoth Enron.
Citigroup has plans to have thousands of more job cuts in its second round of large-scale layoffs this year. This plan comes in the wake of the ailing bank seeking to boost profitability in the face of billions of dollars of investment losses.
