This financial ecosystem has evolved a long way away from “real” economic activities such as growing food, extracting minerals, processing raw materials in factories and transporting finished goods by land and sea.
Custodian banks are now in the fourth year of a prolonged crisis.
Politics is a notoriously ignoble profession. But in any gainful pursuit the temptation to behave dishonorably is as common as the opportunity to do the right thing. In financial markets, where the sums are large, leverage multiplies returns and insiders
From Global Custodian's Editor-in-Chief Dominic Hobson: Marco Sciarra was a Neapolitan bandit of the late 16th Century. He described himself as an “envoy of God against usurers and the possessors of unproductive wealth.” Short sellers make improbable folk heroes, scourges of big business and the banking
From Global Custodian's Editor-in-Chief Dominic Hobson: That human beings deceive themselves in order to deceive others better is now a staple of evolutionary psychology, but the study of deception among animals has only stamped with the imprimatur of science what was obvious to Robert Burns as long ago as 1786.