Monday, October 27, 2014
Despite that Switzerland has settled down of the mortgage-back securities and bank liquidity problem that sparked the crisis in the first place, plenty of potential pitfalls remain as countries scramble to repair their battered finances.
The most pressing of these is a fear that some European countries, most notably Greece, could default on government debts. Nervous glances have also been cast at some eastern European emerging economies that were popular investment markets before the crash and have suffered more than most countries during the global recession.
The financial crisis, culminating in the collapse of US bank Lehman Brothers in 2008, sparked a rush by many countries to impose greater restrictions on banking operations in an effort to avoid a repeat scenario.
Proposed tightening of regulations have centered on increasing the size of assets banks must keep in reserve to buffer against losses, improving the quality of those assets and restricting the amount of debt (leverage) banks use to conduct their business.
Other aspects to come under the regulatory microscope have been restricting bonuses and the counter-party exposure banks have to the potential liabilities of rivals.
In this respect, Switzerland has been ahead of the curve, already demanding tougher conditions for its two main banks, UBS and Credit Suisse, back in 2008.
“Swiss banks are quite resilient and have been traded as safe havens in the last few months,” Bank Sarasin analyst Daniel Bischof told swissinfo.ch. “They have low exposure to southern European countries [such as Greece], above average liquidity and high capital ratios.”
Tuesday, October 21, 2014
Mohamed E. Shaheen from iphone
Begin forwarded message:
From: "The Lawyer" <email@example.com>
Date: 21 October 2014 12:14:31 pm EET
Subject: Facebook sues DLA Piper for 'fraudulent lawsuit'
Reply-To: "The Lawyer" <reply-fec812717662057b-1092_HTMLfirstname.lastname@example.org>
Lawyer News Daily -
Tired of firms' talk of commitment to the partnership gender balance while seeing scant evidence of change, five female lawyers have launched Women in Law London (WILL) to empower women to take the initiative themselves
Tuesday, 21th October 2014
Lawyer News Daily
Facebook sues DLA Piper for 'fraudulent lawsuit'
Forget Hurricane Gonzalo. A bigger storm is brewing in the States between two giants. One side is tech titan Facebook; on the other, legal behemoth DLA Piper.
Facebook has launched a lawsuit in New York claiming that DLA Piper, along with a number of other firms, conspired to file a "fraudulent lawsuit" based on "fabricated evidence" (see story).
DLA Piper, along with US firms Milberg, Paul Argentieri & Associates and Lippes Mathias Wesler Friedman variously represented internet entrepreneur Paul Ceglia in 2010.
DLA Piper began advising Ceglia in 2010. He claimed he had been promised a stake in Facebook on the basis of a 2003 contract, which was later indicted as a fraudulent document.
Facebook is now alleging that DLA Piper, which later withdrew from the case, "publicly staked its reputation on the veracity of Ceglia's allegations".
DLA Piper is not taking this lying down. Quite the contrary: it's calling out the move as "a tactic to intimidate lawyers from bringing litigation against Facebook" and calls the suit "entirely baseless".
Stormy times ahead.
Also on TheLawyer.com:
- Burges Salmon, Eversheds and Pinsent Masons have won spots on the Nuclear Decommissioning Authority's reduced legal panel
- Kennedys has overhauled its career development strategy, introducing a senior associate role
- Akin Gump Strauss Hauer & Feld is understood to be negotiating to take the seventh floor at 41 Lothbury having taken over Bingham McCutchen's lease on the fifth and sixth floors with immediate effect
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Wednesday, October 1, 2014
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Mohamed E. Shaheen from iphone