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Archive | January, 2011

Forests, Fire sales and Mark to Market.

What have Mark to Market accounting rules got to do with English forests and Fire sales? Officially?  Nothing whatsoever.  In my opinion? Everything. But it requires reminding ourselves how we got to where we are now. Back in 2008 the big banks were in fear for their lives, weighed down as they were with hundreds of billions in […]

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Egypt moves towards revolution

The Headquarters of the ruling Egyptian National Democratic Party is on fire.  There is no more powerful icon of popular disgust with Mubarak’s rule than this. So far there has been no word from Mubarak. He has been deafening in his silence and invisibility.  Is he still there? Will those countries in the West who […]

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The film "Inside Job" A chance to meet.

To coincide with the UK release of Charles Ferguson’s film “Inside Job”, I will be doing question and answer sessions with the audience at various cinemas following showings of the film. “Inside Job” has been nominated for best documentary Oscar and is most people’s hot tip to win.   Watch the trailer for the film. Read […]

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Theory versus the World

I have had several exchanges recently with people, who on various financial topics, have told me that something did not happen and indeed could not happen even though we could both see that it had, and then quoted text book theory to prove it hadn’t. I tried to ignore the irritation but to no avail. […]

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Ireland was Germany’s Off-shore Tart – PART 2 – The US connection

Part two. Before I get stuck in, I want to make it clear. it is not my intent to paint Depfa as angels and HRE as devils. Depfa did stupid things.  Their funding problems were not so dissimilar to Northern Rock’s. But Depfa had far better assets.  And therein is part of the story. So […]

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"The Secret Life of Waves" – on BBC4 UPDATED

Just in case some of you might be interested in the other side of my life,  my last film is finally going out. It is called  “The Secret Life of Waves.” You can read about it here  It was a very difficult project and time as the film itself explains. Many thanks to my friend […]

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A tale of two cities – Davos and Cairo.

Things are looking up in the world economy. That’s what we’re told. In Davos they certainly are.  According to the Bloomberg article entitled, “Wall Street Partying in Davos as Bankers Overcome Crisis“,  JP Morgan made its highest ever profits last year Citi has returned to profit.  The year of ‘mea culpa’ is apparently over as […]

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Ireland was Germany’s off-shore tart

Now that Mr Cowen has lost control of his party, coalition and country, the Irish can expect to be bullied and hectored from all sides. It is more important than ever for Ireland to defend herself against the claims that she owes the rest of us. She doesn’t. Every European bank exposed to Irish loans, […]

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The Lower Edge of Luxury

We are NOT all in this together. Pat and Ron Eastman, who live near San Jose, California, bought a 2007 Maserati Quattroporte sedan in February for $108,000, replacing a Mercedes S-Class  “This car is basically for play,” said Pat Eastman, a 56- year-old money manager. “It handles beautifully.” Her husband, Ron, a 58-year-old venture capitalist, […]

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Link to Keiser report interview

Just to let you know the interview in Max Keiser is on now. If you want to watch on RT the times of the show are: 12.30 16.30 20.30 22.30 The interview is in the second half of the programme.  So just add 15 minutes to these times. If you prefer to watch online the […]

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