pdf The Bank That Lived a Little: Barclays in the Age of the Very Free Market ↠ sagolfbidder.co.za Download


The Bank That Lived a Little: Barclays in the Age of the Very Free Market

review The Bank That Lived a Little: Barclays in the Age of the Very Free Market Ò eBook or Kindle ePUB Ic life over thirty years which saw the City move from the edge of the economy to its very centre These decades created unprecedented prosperity for a tiny number and made the reputations of governments and individuals but then left many of them in tattersThe leveraged society the winner takes all mentality and our present era of austerity can all be traced to the influence of banks such as Barclays Augar's book tells this rollercoaster story from the perspective of many of its participants and also of those affected by the grip they came to have on Britai. As someone who lived through the events at Barclays I thoroughly enjoyed the read The book is well written and provides an insight into a period in Barclays history when it dared to challenge the global bulge bracket firms My only criticism is that in this age of a blame culture at times the context in which events happened are not seen as fully as they might This is a complex subject and includes coverage of a very turbulent economic period so it is difficult to get a total balance in perspective

summary ¶ eBook or Kindle ePUB ´ Philip Augar

review The Bank That Lived a Little: Barclays in the Age of the Very Free Market Ò eBook or Kindle ePUB Based on unparalleled access to those involved and told with compelling pace and drama The Bank that Lived a Little describes three decades of boardroom intrigue at one of Britain's biggest financial institutions In a tale of feuds grandiose dreams and a struggle for supremacy between rival strategies and their adherents Philip Augar gives a riveting account of Barclays' journey from an old uaker bank to a full throttle capitalist machine The disagreement between those ambitious for Barclays to join the top table of global banks and those preferring a smal. This is a good book it s an interesting story briskly told and the author has clearly done a lot of background work and from my own knowledge it s largely accurate It s important for me to make that point as I m mostly going to comment on things which are less goodI should also add that I was there for some of the time and much involved in some of the events described in the book so while this gives me an insider perspective it might also be said this is at the price of objectivityI ll begin by getting one thing off my chest I simply hate books that feel the need to say things like Bob Diamond sat down in a small coffee chop ordered a small cappuccino and stared out through the condensation dripping down the window pane How could Philip Augur possibly know this he wasn t there and nor was anyone other than Bob and believe me Bob did not contribute to this book I know it s meant to add colour but it simply sounds naffMore substantively some of the emphasis or lack thereof on elements within the overall story are a little odd and perhaps betray who some of his sources are In the early part of the book one is left with the impression that nothing of importance ever happened at Barclays without the involvement of one individual and the recruitment firm he worked for I don t think soThe book rather oddly suggests that John Varley and Barclays played a bit of a blinder by pulling out of the bid for ABN Amro The truth is had it not been for an even bigger fool in the form of RBS outbidding Barclays it would have made the acuisition and Barclays would have gone bust as ABN was a vastly overvalued bag of nailsThe first of the huge fund raisings involving the ataris which was of enormous importance and has had conseuences to this day is covered in one short paragraphAugur claims he can t say anything about the allegations which surround the second and even larger fund raising on the grounds that the matter is sub judice but there is no reason he could not summarise the key points and developments as they have already been reported in our newspapersIn contrast Amanda Staveley is given far greater prominence and is treated with much greater respect than the facts warrant I would say that her contribution to the transaction was zero or even less than zero if that s possible and many at Barclays considered her to be something of an embarrassment or even a jokeThere are relatively minor factual errors in the book For example the participants on a crucial call with Tim Geithner are incorrectly stated some of the sources uoted in the notes are wrong and many are no longer available and giving as a supporting source for uite an important statement bbccouk is simply inadeuateThe story of how Barclays came to buy much of Lehman Brothers is well told and I think an exciting story in its own right But part of the story is a little jumbled and perhaps I can clarify this aspect In the book it is explained that Barclays needed shareholder approval to acuire Lehman while it was still solvent but the US authorities wished to announced the deal on the Monday morning so Barclays needed the US to backstop it for weeks until a shareholder meeting could be held This is technically correct but incomplete The reality was the US was only being asked to provide a very theoretical guarantee in the event shareholders rejected the acuisition I say theoretical because it was inconceivable shareholders would not approve the deal the board would have resigned on mass had this happened and was prepared to make this clear and in any event the large institutional shareholders would have given undertakings to vote in favour the next day so the US risk window was extremely smallPerhaps important is that Barclays made a judgement that the US authorities were bluffing in saying there would be no public support for Lehman because the conseuences for the financial system in the US and widely should Lehman go bust were too grave to accept Barclays was both wrong and right at the same time wrong because the Americans were not bluffing and Lehman went under but right because had the US correctly foreseen the conseuences which were traumatic and deep it would have stepped in as it then had to do on a much larger scale to prop up AIG just a few days later If the concern was moral hazard it made no sense to let Lehman go and then as a result be forced to bail out AIG and many other institutionsBut now I m commenting upon what is not in the book rather than what is and what is there is an interesting and important story told well and with pace and drama

Philip Augar ´ 3 characters

review The Bank That Lived a Little: Barclays in the Age of the Very Free Market Ò eBook or Kindle ePUB Ler domestic role in keeping with the bank's traditions cost three chief executives their jobs and continues to divide opinion within Barclays the City and beyondThis is an extraordinary corporate thriller which among much else describes how Barclays came to buy Lehman Brothers for a bargain price in 2008 why it was so keen to avoid taking government funding during the financial crisis and the price shareholders have paid for a decade of barely controlled ambition But Augar also shows how Barclays' experiences are a paradigm for Britain's social and econom. The company wrestled with the decision whether to proceed along the traditional banking lines it had evolved since its formation in 1690 or a adventurous international investment banking style yielding very high rewards for the staff making profits andor in senior positionsUnfaltering directional guidance was very mixed from the Board of Directors both Executive and Non Executive resulting in a lack of directional clarityA very well written and riveting account of navigational conflict that might give guidance to other large organizations on the importance of clearly identifying and tightening of corporate goalsHighly recommended

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  • 448páginas448páginas
  • The Bank That Lived a Little: Barclays in the Age of the Very Free Market
  • Philip Augar
  • Inglés
  • 28 February 2020
  • 9780241335970

5 thoughts on “pdf The Bank That Lived a Little: Barclays in the Age of the Very Free Market ↠ sagolfbidder.co.za Download

  1. says: pdf The Bank That Lived a Little: Barclays in the Age of the Very Free Market ↠ sagolfbidder.co.za Download Philip Augar ´ 3 characters free download The Bank That Lived a Little: Barclays in the Age of the Very Free Market

    pdf The Bank That Lived a Little: Barclays in the Age of the Very Free Market ↠ sagolfbidder.co.za Download This is a good book – it’s an interesting story, briskly told and the author has clearly done a lot of background wor

  2. says: pdf The Bank That Lived a Little: Barclays in the Age of the Very Free Market ↠ sagolfbidder.co.za Download

    free download The Bank That Lived a Little: Barclays in the Age of the Very Free Market Philip Augar ´ 3 characters summary ¶ eBook or Kindle ePUB ´ Philip Augar The company wrestled with the decision whether to proceed along the traditional banking lines it had evolved since its formation in 1690 or a adventurous international investment banking style yielding very high rewards for the sta

  3. says: pdf The Bank That Lived a Little: Barclays in the Age of the Very Free Market ↠ sagolfbidder.co.za Download free download The Bank That Lived a Little: Barclays in the Age of the Very Free Market

    pdf The Bank That Lived a Little: Barclays in the Age of the Very Free Market ↠ sagolfbidder.co.za Download Philip Augar ´ 3 characters free download The Bank That Lived a Little: Barclays in the Age of the Very Free Market As someone who lived through the events at Barclays, I thoroughly enjoyed the read. The book is well written and provides an insight into a period in Barclays history when it dared to challenge the global bulge

  4. says: pdf The Bank That Lived a Little: Barclays in the Age of the Very Free Market ↠ sagolfbidder.co.za Download

    free download The Bank That Lived a Little: Barclays in the Age of the Very Free Market pdf The Bank That Lived a Little: Barclays in the Age of the Very Free Market ↠ sagolfbidder.co.za Download Philip Augar ´ 3 characters I thought it wonderful. It read like a thriller, a real page turner. I also found it extremely educational. I only wish I'd read it before becoming a non executive director of a financial institution. It would have helped me

  5. says: pdf The Bank That Lived a Little: Barclays in the Age of the Very Free Market ↠ sagolfbidder.co.za Download

    pdf The Bank That Lived a Little: Barclays in the Age of the Very Free Market ↠ sagolfbidder.co.za Download free download The Bank That Lived a Little: Barclays in the Age of the Very Free Market Great history lesson with some useful insights. However, I found the writing style irritating. The author has tried to build an image of the scenes where crucial decisions were made. But the level of detail can only have been fiction, thus casting doubt on the authenticity of the whole story. Next time, stick to the facts please. The story is dramatic enough without needing embellishments.

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