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Oonagh McDonald

were lower than the published rate, consistent with trader A’s requests for low submissions. Trader A also made a number of requests to external traders; for example, on 20 April 2007, trader A followed up an earlier request in another electronic chat with a trader at another panel bank: Trader A: ‘mate did you manage to speak to your cash boys?’ External Trader C: ‘yes u owe me they are going to 65 and 71’ The conversation resumed after the submission had been made by panel bank 4’s submitters: External Trader C: ‘mater [sic] they set [x]! Trader A: ‘that’s beyond

in Holding bankers to account
Abstract only
John Wilson

, that publicly and in conversations with Ferranti International directors the MoD strongly encouraged a partnership with British Aerospace, as opposed to GEC, given the latter’s increasingly dominant position in UK defence markets.113 As the weeks passed, on the other hand, and West German lobbying over the Eurofighter radar intensified, the MoD switched its position, making it difficult for the board to resist the pressure to sell FDSL to GEC. This inconsistency exacerbated the tensions felt by the board while conducting these negotiations, and although the situation

in Ferranti: A History
Abstract only
John Wilson

nothing else to consider but an offer from GEC that had been tabled in private conversations between Lord Weinstock and Gene Anderson. As we noted in section 8.1, while Albert Dodd was conducting negotiations with Finmeccanica about a strategic alliance between September 1992 and February 1993, throughout that period Gene Anderson and Robert Davies were also meeting Lord Weinstock and senior GEC managers about either an equity injection or outright purchase of Ferranti International. Acquiring Ferranti International, of course, was an extremely attractive proposition

in Ferranti: A History
Open Access (free)
January to September 2008
Oonagh McDonald

Reserve Bank was aware of the possible use of the ‘Freedom CLO’ on 20 March, since Jan Voigt of the FRBNY reports that during the same March 20 meeting, the Freedom CLO came up near the end of the conversation. We were surprised when they noted that their debt structure team had converted unencumbered corporate loans into an investment grade facility (pending rating review), with internal pricing assuming a range of 10–30 per cent haircuts on the underlying assets. The corporate loans had been financed using cash capital at the

in Lehman Brothers
Problems of polysemy and idealism
Andrew Sayer

, and again actual markets are seen as their natural consequence, unless somehow blocked. Once everything is seen as having a price, notional or real, then it is tempting to look upon the range of resources and projects in society as one big market. A loaf of bread, a picture, a house, a field, a letter, a haircut, a motorway, a worker, a conversation – all these things and countless others might be thought of as having a price which someone might possibly be prepared to pay for them, though even under capitalism, some of them may never be offered for sale. In some

in Market relations and the competitive process
Joe Earle, Cahal Moran, and Zach Ward-Perkins

economics is really just seven billion people’s stories, experiences and choices. It’s about what we do, what we make and what we need. We hope that the website will help to catalyse a global community of Citizen Economists and spark vibrant conversations about economic issues which have seemed irrelevant and off-putting to most people for too long. We have spent considerable time and energy thinking about the pedagogy we use for our public education activities because we are aware that embedding critical reflection and pluralism at their core is not easy. It would be

in The econocracy
Open Access (free)
Oonagh McDonald

, shocks to the overall economic system will be better absorbed and less likely to create the cascading failures that could threaten financial stability. 6 To be fair, the conversation was not without its warnings. Risk management capabilities had to be improved. The ‘underlying human traits which lead to excess are scarcely likely to be reformed’, and the role of central banks is in preventing major market disruptions through the ‘development and enforcement of prudent regulatory

in Lehman Brothers
Costas Simitis

exclaimed: ‘Who knows Olli Rehn? Who knows this man’s face?’26 Such division and conflict were clear proof that a balance between the pursuit of the ‘political union’ required to promote economic convergence and the national policies to reduce social conflict had not been found yet. In the run-up to the Eurogroup meeting to be held on 20 February, and to find a commonly acceptable solution, the Greek Prime Minister was in continual contact with the leaders of the other EMU member states. Following these ongoing conversations, the Italian Prime Minister, Monti, took the

in The European debt crisis
Joe Earle, Cahal Moran, and Zach Ward-Perkins

monopoly of method or core assumptions, often defended on no better ground than it constitutes the ‘mainstream’. Economists will advocate free competition, but will not practice it in the marketplace of ideas. The 1992 Plea for Pluralistic Economics46 The quote above comes from an open letter signed by 44 leading economists – including four Nobel Laureates – and published as an advertisement in the May 1992 edition of the American Economic Review. The letter goes on to call ‘for a new spirit of pluralism in economics, involving critical conversation and tolerant

in The econocracy
Abstract only
Joe Earle, Cahal Moran, and Zach Ward-Perkins

effort to engage the public in conversation, and have the broad knowledge and skills necessary to respond to publicly agreed economic priorities. This kind of expert would in turn pave the way for a world in which economics was democratised, and much larger swathes of the general public were able to engage with economic discussion and hold economic decision makers to account. In this world, citizens would be able to articulate their economic needs and preferences; participate in the political system to negotiate those needs; and then have the knowledge to make informed

in The econocracy