Bad Credit Loans

Britain has paid a horrific price for allowing the City to dictate credit policy. Yet there is no inquiry, no questioning, only silence Still no inquiry. Still no answers. A trillion pounds has been devoted over the past 18 months to protect Britain’s financial system from alleged Armageddon, with not a murmur of value for [...]

After the phoney peace, the macroeconomic war is afoot again. And this time it starts with letters For macroeconomists, it is quite like old times. Over the last decade, ­economists seemed to share a broad ­consensus about economic policy, with the old splits ­between monetarists and Keynesians apparently being settled by events. But the Great Recession of [...]

‘I am not interested in punishing banks,’ said president Obama Global stock markets have pushed higher on widespread relief among investors that Barack Obama’s banks clampdown may not be as stringent as they first feared while the US central bank’s cautious optimism also helped boost sentiment. The FTSE 100 has opened more than 1% higher, a rise [...]

We supporters of the US’s Glass-Steagall Act used to be regarded as eccentrics. Now the most powerful man in the world is backing it Not so long ago, fans of ­bringing back the Glass-Steagall Act – American Depression-era legislation that separated utility banking from casino speculation – were considered members of an eccentric and tiny minority. Now [...]

City minister plays down idea Britain may match radical US proposals, despite Gordon Brown being ‘very comfortable’ with president’s plan Lord Myners, the City minister, today played down the idea that Britain might follow Barack Obama’s lead in introducing radical banking reforms. Myners told Reuters the UK had already taken measures to address the problems in its [...]

Analysts predict big payouts despite political pressure Goldman Sachs bankers are forecast to enjoy an 81% rise in their pay and bonuses for 2009, even though the bank may be forced to respond to political pressure by reducing the amount of money it sets aside for employee payouts in the fourth quarter of the year. Goldman is [...]

• Bank made year-end profits of $11.7bn• Darling’s bonus tax to hit hard• Profits fall short of analyst forecasts The Wall Street bank JP Morgan Chase has reignited a political furore over City pay packets by disclosing that it will hand out $9.3bn (£5.73bn) to its investment banking staff around the world despite facing a likely [...]

• US banks have to submit their pay policies to Federal Reserve• Bankers argue that regulating pay is the wrong approach Wall Street has so far avoided any crackdown on bankers’ pay with the Obama administration taking a softer line than in Europe, where politicians are still involve in bank bailouts. Far from the possible UK [...]

Chancellor insists Obama administration’s refusal to back a ‘day-to-day financial transaction tax’ does not mean an end to plans Alistair Darling pledged today that the government would step up its fight for a new international tax on banking despite an initially frosty response to the plan from Washington. The chancellor said there was broad agreement among Britain’s [...]

As the rest of the world comes out of recession by stimulating spending, we remain in snobbish thrall to the bankers Guess what? Britain has an economic policy that works, one that is small but perfectly formed. It is not the £175bn that the chancellor, Alistair Darling, has hurled at banks, apparently with no effect whatsoever. [...]