Risk Management

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Greg MacSweeney
Greg MacSweeney
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Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week

Lloyds Bank, following a few systems failures in 2012, is facing accusations from a former executive that risk controls are lacking, while Thomas Weisel is under scrutiny for ties to Lance Armstrong, HSBC can't get away from its money laundering settlement and "genius" trader risk top this weeks chatter in the press and on Twitter.
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5. Lance and Thomas Weisel

We have to first hear Lance's story, then they can ask Weisel and others who facilitated the racing and were part of this milieu, what part did you play? Did you ask questions? Was the doping going on apparent to you?

— Jim Balassone, director of the business ethics program at San Clara University

Source: Silicon Valley Legend Thomas Weisel Entangled in Lance Armstrong's Problems

 

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

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Melanie Rodier
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Melanie Rodier,
User Rank: Author
1/24/2013 | 10:28:13 PM
re: Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week
Funny quotes, though it's unfortunately true that HSBC, and so many other financial institutions have never really been held accountable for their mistakes. Hopefully the new guard at the SEC will be able to change some things, at least going forward...
Cara Latham
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Cara Latham,
User Rank: Apprentice
1/23/2013 | 2:09:35 PM
re: Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week
Good collection of funny quotes!
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