Interview with an investment banker

Just in case you missed it. Investment bankers bet and speculate. In other words they are making money with money. When the banking world was about to collapse because the bet on packets of junk bonds, and were about to be caught out on it they changed their tack. They now bet and speculate on […]

Troubled MFS Pacific Finance to get $11.5m from sale

Financially troubled MFS Pacific Finance is to receive around A$10 million ($11.5 million) in cash back from an inter-party related loan but has still not reached an agreement over how much it will get from the proceeds of the Stella Group majority stake sale. Australian company MFS, which owns 38.5 per cent of MFS Pacific […]

“Market Fundamentalism” and the Tyranny of Money

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. What We Must Do Today “Life, liberty, and the pursuit of happiness” are, or should be, the fruits of democracy. […]

Geneva Finance gets ratings downgrade

Geneva Finance has been downgraded by credit ratings agency Standard & Poor’s from B+ to B-. Standard & Poor’s director Gavin Gunning said the change reflected a sense that Geneva’s short-term liquidity and funding position was increasingly under pressure. “While Geneva continues to benefit from the demonstrable support of its primary bankers, the nature and […]