SMRT’s profits come from government subsidies
Dr Christopher Balding In 2008 during the global financial crisis, United States politicians debated whether bailing out failing banks would set the precedent of ‘privatizing profits and socializing losses’. Economists call this problem “moral hazard” when companies are not forced to recognize their risks and consequently...
MAS ‘looking into allegations of inappropriate behaviour’
On Wednesday (9 Apr), the Wall Street Journal (WSJ) reported that a top Deutsche Bank saleswoman was placed on leave last month after the German bank found what it regarded as inappropriate communication between her and Singapore's central bank, the Monetary Authority of Singapore (MAS) [Link]. The Deutsche Bank employee, Kai...
Deutsche Bank suspends employee for MAS contact
Dr Christopher Balding Deutsche Bank has suspended an employee for “improper communication” with the Monetary Authority of Singapore. This comes after a wide ranging investigation by large investment banks into suspected employee rigging of the foreign exchange market. There are a couple of interesting aspects to this case....
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