FPS’ Friday Fiver

posted by Edward Jones

Known unknowns…

Frank Portnoy, Professor of Law at the University of San Diego has written a fantastic article in today’s FT on market uncertainty, rogues, risk taking and trust in banks. The best we’ve seen and rather frightening, Dr Doom would be proud, because ultimately, however much we regulate, we are only basing decisions on what has happened in the past, rather than what could happen in the future – i.e, Greece defaulting.

Every picture tells a story…

Photograph: Dan Kitwood/Getty

Indeed this photo, featured in Jackie Ashley’s excellent comment piece on what the future may hold for the Liberal Democrat’s (it’s a fairly bleak outlook) tells a very specific story of the Liberal Democrat’s past; the good intentions of fresh faced Lib Dem MP’s. Contrasted this week, with the harsh realities of Government, and the tensions between the two, superbly captured in Danny Finkelstein’s commentary.   

F8: The media story of the week…

Facebook and Spotify have teamed up to bring free music to Facebook users and announced the fruits of their labours this week with this video. Mashable provide a better summary than we ever could, but this is certainly worth knowing about.

“Disastrous miscalculation” – but by whom?

Yesterday Kweku Adoboli, the UBS trader accused of losing £1.5 billion, appeared in court on charges of two counts of fraud and two of false accounting dating back to 2008. During the hearing his lawyer said that he is “sorry beyond words” for his actions.

Mr Adoboli is not the only one who should be sorry – or worried. Mr Adoboli actually shopped himself; it was not the UBS risk or compliance teams that picked up on his reckless behaviour. This presents a massive problem for UBS and its internal control systems as they have been shown to be unfit for purpose.

“Disastrous miscalculations” have certainly been made, both by an individual and an institution.

Get set for the iphone 5…

Infographic: Dusan Belic, IntoMobile

 

The ‘will they, won’t they’ speculation was all a bit much for the iPhone junkies around the office this week, and despite the lack of information coming out of Apple themselves, we think all this confusion just makes for an even bigger launch when the iPhone 5 actually hits the stores – and we can’t wait.

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