Daily Archives: April 11, 2011

John Gapper

It feels as if Wall Street is moving westward, and that US investors, having been caught up in the mortgage boom, have instead turned their attention to the opportunities on the west coast.

The National Venture Capital Association has unveiled figures showing that the industry had its best start to the year in terms of fund-raising since 2001, raising about $7.1bn in the first quarter.

Meanwhile, Matthew Garrahan writes in the FT about the keiretsu-like Raine merchant bank, which is raising $500m from a range of Illuminati from Silicon Valley and Hollywood including Eric Schmidt of Google and Sean Parker of Facebook etc. 

Andrew Hill

Britain’s Independent Commission on Banking may have started the practical process of ring-fencing banks against disaster. But the commission has no mandate to expose the truth of what went wrong in the financial crisis (including, it has to be said, the complicity of ordinary borrowers) let alone heal the trauma it caused.

Brad Fried, former chief executive of Investec, thinks that if an honest, open analysis of the causes of the crisis is not carried out, there is a risk that the UK, and the financial world, will repeat the same mistakes.