Pumped Up Petrol Prices

The Daily Mail  –  17 May 2013

Every major investment bank’s trading floor has a number of different ‘tribes’. There are the barrow-boy bond traders and the nerdy research analysts, the upper-crust equity salesmen and the derivatives ‘rocket scientists’.

But at the four banks I worked at during my 12-year City career, there tended to be one breed louder, flasher and brasher than the rest — the commodity traders. Continue reading

Cityboy quoted in the Huffington Post – Cocaine And The Crunch

Many economists blamed the financial crisis on “irrational exuberance” in the banking and investment communities. Now, a former British drug czar says he knows what caused that exuberance: cocaine.

Bankers’ use of the white stimulant led them to be overconfident and make the mistakes that led to the financial crisis, David Nutt has said. Continue reading

Did Cocaine Cause The Crunch

The Guardian  –  15 April 2013

“Wall Street got drunk” was George W Bush’s typically incisive take on the main cause of the emerging financial crisis in July 2008. Two years later the governor of the Bank of England, Mervyn King, explained in his Mansion House speech that “the role of a central bank in monetary policy is to take the punch bowl away just as the party gets going” Continue reading

Cityboy Presents: Inside The Bonus Culture

BBC Radio 4  –  25 March 2013

Decades ago, bankers’ bonuses might have been Christmas hampers containing paté and some glacé fruit. Then, the story goes, the Americans arrived in the City bringing with them the “eat what you kill” compensation culture, and the feast changed. Former City analyst Geraint Anderson offers his take on bonuses, asking bankers, historians, economists and a social anthropologist why they think this culture took such a deep hold on the City. He recalls annual battles to make sure his own payment was better than what his peers were getting, walking away with half a million pounds. His superiors were getting a lot more, the millions we read about in newspaper headlines. Tales of excess and expert analysis are combined in this City portrait; and, as politicians in Brussels try to impose strict caps on bonuses, Geraint asks – how will the bankers of tomorrow be paid?

Click here to listen to the show

Cityboy Presents: Inside The Bonus Culture – BBC Radio 4

Click here to listen to the program which went on to be R4’s Pick Of The Week

Decades ago, bankers’ bonuses might have been Christmas hampers containing paté and some glacé fruit. Then, the story goes, the Americans arrived in the City bringing with them the “eat what you kill” compensation culture, and the feast changed. Former City analyst Geraint Anderson offers his take on bonuses, asking bankers, historians, economists and a social anthropologist why they think this culture took such a deep hold on the City. He recalls annual battles to make sure his own payment was better than what his peers were getting, walking away with half a million pounds. His superiors were getting a lot more, the millions we read about in newspaper headlines. Tales of excess and expert analysis are combined in this City portrait; and, as politicians in Brussels try to impose strict caps on bonuses, Geraint asks – how will the bankers of tomorrow be paid?