The Evolution of Communications

Sep 17 2019

In the early-1980s, I signed the Official Secrets Act and was shown into a room with a dozen middle-aged men and a secretary. My job was no more than a gopher but it gave me my first insight into how communication was about to change. For months we would secretly test the new cordless telephones, and I would take taxis back and forth to the laboratory to deliver blueprints and collect prototypes (too secret to be delivered by London taxi). In the end, the UK lost out to the US in the telecoms race and British Telecom quickly became the first true global privatisation under Margaret Thatcher, sparking a wave of government asset sell-offs whose legacy continues today. Read more…

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Drafting the Dodd-Frank Narrative

Dodd-Frank
Feb 13 2015

George Bailey is making a vicious comeback.

The release of a working paper from the Harvard Kennedy School concluded that the declining strength of community banks has accelerated since the passage of Dodd-Frank in 2010. While the authors admit that the decline in community banks – with their share of U.S. banking assets falling to 20 percent – is not solely attributable to Dodd-Frank, they express concern that the trouble may stem from “inappropriately designed regulation and inadequate regulatory coordination.”

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The Irrefutable Role of the “Big Four”

Sep 5 2014

In most major industries, there are groups of four. In sports, from both a financial and a historical standpoint, there are four key franchises that are “Too Big to Fail”. This term was first coined following the 2008 financial crisis, and was made even more popular with Andrew Ross Sorkin’s 2009 bestselling book on the subject, which detailed the events leading to the 2008 financial crisis.

This term for the major banks that became a focal point of the financial crisis are very often linked to the financial services industry. But they can be applied elsewhere. Even quartets of athletes have been dubbed “The Core Four” several times throughout history. The “Big Red Machine,” the fantastic Cincinnati Reds team of the 1970s that captured World Series titles in 1975 and 1976, was led by Pete Rose, Johnny Bench, Joe Morgan and Tony Perez (all Hall of Famers), and more recently the “Core 4” that served as the foundation for the five most recent Yankee World Series championships, consisted of Jorge Posada, Mariano Rivera, Andy Pettitte, and of course, Derek Jeter. Read more…

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