I was on the radio this morning

Interesting conflict

So the former head of the FSA is on the advisory board of a hedge fund shorting Northern Rock.  What does the FSA think about that?

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2625647.ece

 

Those CGT changes at a glance

• Rate of CGT on shares held in small businesses goes from 10% to 18%
• Rate of CGT on second homes goes from 40% to 18%.

But then Labour MP’s usually have tax payer funded second homes, but own their own small businesses. In fact, Ed Balls (a public schoolboy hiding behind a working class accent) and his wife Yvette Cooper (who curiously has chosen not to take his name), manage to take two separate interest subsidies for the same house on top of their ministerial salaries.

Ten Brown bottles sitting on the fence

It is hard to not feel sorry for Gordon Brown after 3 months in office …. but on balance it is worth making the effort.

That squelchy sound you just heard

.. was the sound of something hitting a fan

http://www.ft.com/cms/s/0/1ea177cc-72b0-11dc-b7ff-0000779fd2ac.html

Bids blossoming for the bank up north?

Has the beleaguered Northern Rock finally found a suitor which is willing to not only acquire it, but keep its business intact? Reports that the American buyout firm JC Flowers is mulling a bid and could keep it whole, rather than split it up, sent shares in the mortgage lender soaring by more than 10.0% in morning trade in London. Christopher Flowers, a former Goldman Sachs partner and founder of the private equity firm JC Flowers is said to have secured up to £15 billion ($30.6 billion) to make a bid for Northern Rock.