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Bank deleveraging has barely started

Bank deleveraging has barely started

Banks lending money to governments to help fund bank bailouts looks horribly circular

No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us

September 1999

The not-so swinging office





Management sages are rife but the office is an unenlightened place. Bob McGinnis, head of consumer asset-backed debt at Greenwich Capital in the US, complained to Euromoney that the French windows in his office didn't open and he couldn't practise his golf swing. When his comments found their way into print he was deluged by self-righteous colleagues and clients deploring his waste of valuable time contemplating leisure. For them the best office is one with no windows and the employees locked inside.

Tut tut. It is McGinnis' colleagues who aren't working properly. They haven't read their Alvin Toffler or Tom Peters for a start. State-of-the-art management philosophy says creativity at work can best be fostered by breaking down the barriers between labour and leisure. Capital markets are being denied the asset-backed structures that would no doubt enter McGinnis' head were he free to swing his club. Liberate that man.Antony Currie






I wanted to pay exactly one quid [£1] but my arm was twisted, and we rounded up to $2

Nomura’s Sadeq Sayeed, one of the architects of the bank’s acquisition of Lehman Brothers’ European business, on the deal of a lifetime

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