Showing posts with label Nigel Andrews. Show all posts
Showing posts with label Nigel Andrews. Show all posts

July 31, 2015

In the movie “Mission Impossible: Rogue Bank Regulators”, FT could play a leading role.

Sir, Nigel Andrews, when reviewing “Mission: Impossible — Rogue Nation” and because someone there says “Today is the day the IMF’s luck runs out” mentions this “Sounds like a case for the Financial Times”, “Fantastic nonsense of a mission implausible” July 31.

Clearly it not, since there “the Impossible Missions Force puts its lives on the line to combat The Syndicate, a group of global agents/ spies gone terrorist”

But what if the next Mission Impossible movie had team Cruise fighting against those rogue statist regulators who, for purposes of determining the capital requirements for banks, imposed risk weights of 100 percent on the private sector and zero percent on the government? That would surely be a case for the Financial Times. In fact then FT, with its silence about the distortions those regulations cause in the allocation of bank credit to the real economy, could even have the right to ask for a leading role in the film. Now if FT gets that role, I wonder who would play you, The Editor, and who Martin Wolf?

Of course, since there are so many expert technocrats/bureaucrats that play a prominent role in the Basel Accord incident, the production would be star studded. Because there are so many “Chauncey Gardiner" characters in the plot, it is truly unfortunate Peter Sellers is not with us any longer. Can you imagine how good he could have been as Mario Draghi?







September 27, 2013

What about bank regulators as scary movie villains?

Sir, Nigel Andrews writes “The spawn of the bankers make the scariest movie villains”, September 27. But since I am much more scared of bank regulators that of bankers I wonder if he could identify some movies were these are presented as villains.

For instance their capital current requirements for banks, based on ex ante perceived risk of their assets, could be likened to traffic allowing cars to speed at different velocities depending on the ex ante perceived value of car safety features, and without considering the driver. Can you imagine what scary disastrous car wreckage scenes could be filmed as a result?

May 22, 2007

About ageing in today’s financial world.

Sir, Nigel Andrews end his review of “No Country for Old Men” May 22 describing the bewilderment of an ageing sheriff that far from having “seen everything before” scarcely understands anything as “a murderous materialism is taking over his part of the world, sweeping up even semi-innocents in its dust-devil vortices”. Keeping the distance that review rang a bell when, just at a three pages distance, we read how John Dizard “Gold tells a sad story of asset deflation in the future” seems really to be pulling at greying and diminishing hair in pure bewilderment over what is happening in the financial world, so much that he ends with a “So sell gold now, but wait for it to begin a dramatic rally next year”. Just to make it clear, perhaps even though “much” younger than the Sheriff and Dizard, I also include myself in the list of the ageing and lost.