British Banking

Posted by Equity Private, Apr 18, 2008, 12:13pm

Observation: Gordon Browne in Washington, D.C.

Observation: Gordon Browne meets with all the regulars AND Bernanke.

Observation: Browne was a senior (the most senior?) British financial official for 10 years.

Observation: The Pope's visit has kept the Browne visit out of the papers.

Observation: Bank of England grudgingly admits financial intervention might be required.

Observation: USSP5 swaps spiking significantly.

Observation: It's Friday, meaning two day lull in markets for crisis management.

DealBreaker's Exclusive "Comically Thin" Prediction(tm): Major British Bank/Fund Failure/Rescue Imminent.

Discuss.

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1Recommend this! 37Comments

Comments

1

Posted by guest, Apr 18, 2008 12:39PM

The British Prime Minister's name is spelt Gordon Brown , not Browne.

As he is in charge of the world's 5th largest economy, which also gave America its language and much of its heritage and culture, you could afford him the courtesy of spelling his name correctly.

If Americans want to mantain their place as Global Masters , they'll have to brush up on their knowledge of foreign countries.

2

Posted by guest, Apr 18, 2008 12:42PM

@12:39 - au contraire, I think America's blissful ignorance of foreign countries is what earned us the position of global masters.

3

Posted by guest, Apr 18, 2008 12:57PM

@12:39. Run along mate, you're almost late for this decade's dentist appointment.

4

Posted by guest, Apr 18, 2008 1:00PM

12:39, I request the favour of your presence in my office to discuss your continuously referring to the IT people as "punjabs."

-12:39's boss

5

Posted by guest, Apr 18, 2008 1:02PM

Does anyone else ever wonder if all these "guests" hating on each other are all in fact the same person with some unfortunate personality disorder?

Or is that just me and the voices in my head?

6

Posted by american bandersnatch, Apr 18, 2008 1:03PM

spelt? What the fuck kinda word is that?

7

Posted by guest, Apr 18, 2008 1:18PM

wope ur heigh, EP.

8

Posted by guest, Apr 18, 2008 1:20PM

actually, according to wikipedia...
Spelt (Triticum spelta) is a hexaploid species of wheat. Spelt was an important staple in parts of Europe from the Bronze Age to medieval times; it now survives as a relict crop in Central Europe and has found a new market as a health food. Spelt is sometimes considered a subspecies of the closely related species common wheat (T. aestivum), in which case its botanical name is considered to be Triticum aestivum subsp.

9

Posted by guest, Apr 18, 2008 1:25PM

AB- don't argue with the English over English:

http://dictionary.reference.com/browse/spelt

10

Posted by guest, Apr 18, 2008 1:30PM

Yea, I always thought it strange that Brown visited at the same time as the pope. The pope is good cover. My money is on EP. Good job. SELL ON POPE'S VISIT.

11

Posted by american bandersnatch, Apr 18, 2008 1:31PM

Thanks 1:25, I forgot that we put some third world country full of gormless pansies in charge of our language.

12

Posted by guest, Apr 18, 2008 1:35PM

And furthermore, I love the shirts: Pink, Hilditch & Key. GAnalYst

13

Posted by guest, Apr 18, 2008 1:44PM

1) Don't buy Pink shirts - the elbows wear through so fast they must be made of biscuits.

2) I too have heard rumours from those in a position to know that there is a major British Bank in very severe trouble right now. Probably a Scottish one....

14

Posted by guest, Apr 18, 2008 1:50PM

Thanks for the tip. Actually, I don't wear the Pinks to work - scandalously tight across my pecs - so the elbow thing isnt a problem. The H&K's though fit like a bankers shirt should and wear like iron. GAnalYst

15

Posted by guest, Apr 18, 2008 1:52PM

Is 2) the reason why that Scottish one, a likely candidate for bidding on many of the busted US regionals, has been so silent lately?

16

Posted by guest, Apr 18, 2008 1:56PM

GAY- American firms not good enough for you? No wonder the USA is in sh*t shape. Doesn't anybody care about this nation anymore? Just try going to most stores and trying to find an American label. Good luck! I guess it could be worse, you could be buying from HK/Communist China tailors. At least the Brits speak English. Even if they did want to tax us to death back in the day. We still haven't forgotten. Or the fact that we had to bail you all (and the rest of Europe) out of W W 2.

17

Posted by guest, Apr 18, 2008 2:00PM

Dealbook says that Scottish bank is looking to launch a rights offering of £5-12 billion.

18

Posted by guest, Apr 18, 2008 2:18PM

For the record, I buy Alden shoes www.aldenshoes.com The best, and made in the USA. Also New Balance sneaks. Not the cheep ones that are just assembled here, but the ones MADE IN THE USA. GAnalYst

19

Posted by guest, Apr 18, 2008 2:25PM

BTW, the Alden tassled loafers in shell cordovan, which are the ones youre seeing all around you (if you work in a good place that is), were going for Euro 800 last summer in Italy. In NY they're $525.

Heres a tip: Before leaving for Italy, slip a few pairs into your suitcase, say in size 10, 10.5, spread em out on a blanket at the bottom of the Spanish Steps and make a good dent in the cost of your vacation. GAnalYst

20

Posted by guest, Apr 18, 2008 3:18PM

GAY - Yea, that's a small start. A few pairs of shoes out of your entire closet. I wear Made in the USA Allen-Edmonds myself. You can also get dress socks made in the USA if you really try. But for dress pants and shirts - GOOD LUCK. I'm sure that some bespoke tailors will make something custom and might use American fabric, but for just buying some quick and easy - NOTTA.

21

Posted by guest, Apr 18, 2008 3:36PM

C'mon people -- you are all soo gay.
EP -- good post, have to agree on Pope being a great cover.

22

Posted by Debter, Apr 18, 2008 4:31PM

If I'm short the pope, what do I go long?

23

Posted by guest, Apr 18, 2008 4:43PM

@4:31 Hot young unemployed ML (or other IB) girls make me go long. But perhaps you play for the other team? Ask GAnalYst or Mr. Pink then.

Thadius R. Rogers
Provider of Advice/Evaluator of Talent

24

Posted by mrpink, Apr 18, 2008 4:57PM

LOL Thad-ddy...

time for me to head to chelsea!

-mrp

25

Posted by ep, Apr 18, 2008 8:11PM

1. I'm not American.

2. I suppose I should stop invoking subtle puns (like casting James Gordon Brown, the Prime Minister, in the light of Gordon Frederick Browne, illustrator of young adult books). DealBreaker readers are prone to interpret such things as but new examples of my not-exactly-infrequent typos. I don't really blame them. My humor is overly subtle. I did expect the more erudite Brits to catch it. Are none of you here? That sort of passive aggressive insult is right up your alley.

3. @1:50 How do you keep your H&K from printing under your dress shirt, or do you keep your jacket on all day at the bank?

26

Posted by Jmoney, Apr 18, 2008 10:22PM

How did these comments degenerate into discussing fashion?

I actually read up on interest rate swaps so I could understand one of EP's serious posts, and I thought I could contribute something. But, no.

Anyways, thanks for contributing to my finance education EP.

It's interesting that a politician may be in cahoots with the businessmen. But, I doubt the timing was intentional. Brown's visit wouldn't have been any more relevant to the press without Papa's trip.

27

Posted by guest, Apr 19, 2008 2:17AM

Don't buy that EP's misspelling of Gordon Brown's name was a subtle joke. No offense to EP, but you also misspelled John Thain's name the other day.

28

Posted by guest, Apr 19, 2008 2:30AM

Don't agree with @1:56pm about "bailing out" the British in WW II. Although American participation was key to the eventual Allied victory, we forget we came late to the war. The British fought alone and valiantly for several years before we entered combat. They had to endure heavy civilian casualties, destruction of parts of their cities, and relocation of large segments of their civilian population, all without losing their resolve to fight. The U.S. went through none of this. The British set an example of national valor that deserves our continued respect.

29

Posted by guest, Apr 19, 2008 6:04AM

America loves Jesus, hence excited coverage of Pope's visit. Pope probably equally excited to visit a country where people don't believe in evolution and still expect their leaders to seek guidance from God.

30

Posted by guest, Apr 19, 2008 8:01AM

Dearest EP,

1.) 'We' are here, its just not funny. It's obscure. The fact you assume 'we' should find it funny is ironically amusing, however.

2.)@12.39. 5th largest? I am a seller in size there. Further, he does not deserve respect, as he is a dour-faced, curmudgeonly poltroon; as you might say if you had benefited from exceptionally good education.

3.) GAnalYst, totally agree with your choice of H&F. But Pink shirts are dreadful as quality is awful.

4.)@1.56 Sorry about the taxes and thanks for the help. However, after selling HSBC the fine business that is Household, can we call it evens now?

You are also welcome to take Billy Bob Diamond and the Barcap HillBillies back as well. Whom no doubt will also be offering a "once-in-a-lifetime" opportunity to become a part-owner of the Blue Eagled franchise shortly.

5.) Debter @ 4.31pm; one should go long ammunition and tinned fruit. As Bernanke has finally realised that divine intervention is required.

God save Queens, or something like that.

TTFN

Foxe Hole, esq.

31

Posted by ep, Apr 19, 2008 9:45AM

"Don't buy that EP's misspelling of Gordon Brown's name was a subtle joke. No offense to EP, but you also misspelled John Thain's name the other day."

That was totally me fat-fingering and not editing on the Thain tag. I'm entirely willing to admit it when I drop the ball on those. But I've never claimed otherwise. To wit:

"...my not-exactly-infrequent typos," in my first comment above.

I wish this one were just a typo. Misreading the audience and blowing the comedy is worse than just lazy proof-reading. Not enough vodka before starting "work," I suppose.

32

Posted by Anal_yst, Apr 20, 2008 2:40PM

@ Gaynalst

At least pink isn't as horrid, quality wise, as Brooks Brothers. Made the mistake of buying a few shirts from there a few years back, roughly 60% have had left elbow rip-throughs already.

Quality is dead.

Any thoughts on charles tyrwhitt? Few I have from there seem (keyword) to be of higher-quality fabric and craftsmanship.

Figure asking a pro is probably better than trusting my straight friends.

33

Posted by guest, Apr 20, 2008 6:22PM

Very well EP, we will forgive you on this one. Anymore comic faux pas of this nature and we might be driven to conclude you are Canadian.

Anal_yst

Try Turnbull & Asser on 57th. Great Uncle Butte,a confirmed bachelor, always went for Asser.

Foxe Hole, esq.

34

Posted by Anal_yst, Apr 21, 2008 1:08AM

Thanks 6:22, Turnbull is just a little waspy for me, more a hickey freeman fan I guess

35

Posted by guest, Apr 21, 2008 9:49AM

Turnbull is difficult to pull off, unless you're the chairman. It would be like wearing very expensive cuff links. Kind of invites a career killing "who the f does he think he is". Plus, the wrists are really tight, unless you get custom made. Its as if they were made for skinny little british boys, not buff Americans. Hilditch & Key are totally subtle. Just good quality, good fit. No one knows but me. Re Tyrwhitt: They're in the Bear building. Customers are gone. Bet they're gonna have a big clearance sale soon. BTW, anal_yst: hope you buy yr Hickeys at the Barneys warehouse sale. Maybe you're one of those guys who wears his boxers and tries the pants on in the aisle. Great opportunity for gals and gay boys to catch a glance of leg in the winter. Yum. GAnalYst

36

Posted by miami, Apr 22, 2008 4:19PM

'The British fought alone ...for several years before we entered combat. '

1) They brought most of that on themselves by selling out country after country like Austria, Poland, Denmark, Belgium, et al. 'Okay, this time we believe AH won't invade another sovreign nation.'

See the Munich pact. Good work Limeys!

'Okay, this time he just wants peace. We're super cereal guys! Peace in our time!!'

Read Shirer's published diary [1934-41] and more famous work for add'tl details. He paints an exquisite palette of the naivete of Brit diplomacy.

2) 'Alone?' Again, some French, and forces from the countries noted above, and Russia, and various NoAfrican countries, and et al were also fighting the Germans.

3) I seem to remember the US shipping the Brits rather large quantities of war materiel, food, etc, prior to the US 'officially' entering the war. And keeping shipping lanes open in the NoAtlantic for the Brits. Starting in early 1940, in fact, with the shipments of munitions and destroyers to the Allies.

As for the absurd claim of 'several years,' it was almost exactly 18 months from the actual outbreak of fighting around Dunkirk to the US declaring war on Germany.

37

Posted by guest, May 02, 2008 12:10PM

miami, you have no concept of history.

Why don't you ask EP, she'll set you straight

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