Bottom line: consumer banking is a tough f#&*ing business. Most likely Goldman customer base ended up being rate shoppers – like me. https://www.cnbc.com/2023/02/27/why-goldmans-marcus-project-failed-and-what-it-means-for-ceo-solomon.html
Great doc from the Financial Times. “Russian oligarchs and companies have been investing in London for two decades, encouraged by British politicians of all stripes, but critics say the ‘London laundromat’ cleans dirty money from Russia and across the globe. The FT examines why it took Russia’s invasion of Ukraine to put the issue in …
https://www.theguardian.com/commentisfree/2022/apr/08/britain-war-in-ukraine-britain-putin-regime?CMP=Share_AndroidApp_Other
US intelligence concensus adds more nuance of China’s role in the Covid19 outbreak. Far from being a top down Beijing controlled conspiracy of silence, it was in fact local officials shielding information from Beijing Local Officials in China Hid Coronavirus Dangers From Beijing, U.S. Agencies Find https://nyti.ms/2EbxVnr
Article neatly highlights the double poverty burden of Covid rules – poor working women who don’t can’t afford to hire childcare providers and children who disproportionately suffer from home schooling. The evidence shows that opening schools presenta relatively low risk. But when the voiceless disproportionately suffer who will listen? Boris Johnson telling the employer to …
Number of missing vulnerable children soars as safeguarding is cut during pandemic One of the many adverse consequences of lockdown. https://www.theguardian.com/society/2020/jun/06/alarming-rise-in-cases-of-missing-children-following-safeguarding-cuts?CMP=Share_AndroidApp_WordPress
Coronavirus is also a threat to democratic constitutions – Not mentioned in this article is the power conferred on the state via financial bailouts. Governments around the world now control more and more of the financial machinery. Will this asphixiate the state or empower the state? https://giftarticle.ft.com/giftarticle/actions/redeem/59c2b45d-8239-4d3c-8af3-add70469b2c5 via @FT
COVID-19: Tackling a dual economic and health crisis https://www.linkedin.com/pulse/covid-19-tackling-dual-economic-health-crisis-rod-dubitsky
This article raises 3 key issues related to private equity – 1) when there is a failed IPO do the PEs mark down the private valuation on the assumption that failed IPO implies that private value is too high?, 2) what is the process to ensure private sales and/or swaps are properly valued and arm’s …
Europe’s life insurers fall into the hands of private equity – How will the investments be optimized? To enrich the PE owners or to cover insurance liabilities? https://www.ft.com/content/4e89ff8e-c8af-11e8-ba8f-ee390057b8c9 via @FT