The Budget: Nigel Farage’s response

The Budget is out, triggering much wailing and gnashing of teeth. The Financial Times and the Telegraph called it “pro-growth”, while the Guardian says it…

Banks fail first, then the energy companies

I for one, don’t see it as a systemic risk to the global banking system. In fact, I suspect this may be a subversive move…

The perennial re-opening of Pandora’s Box

Why the banks didn’t hedge their books properly is as yet unclear, but the most obvious explanation is that their respective Treasury operations were being…