Archives for : February 2015

The Big Boy Defence #bankculture

Nicolas Corry

Nicolas Corry, Managing Director, nicolas.corry@skadilimited.com

Press reports of the deal Standard and Poors have reached with Federal and State Agencies shines a light on the challenge faced within the Financial Industry to bring about cultural change. Paul Barrett writing for Bloomberg describes one of the defences S&P’s lawyers used early in the case, making the blunt observation: “The company said that its claims to objectivity and independence were “mere puffery,” the sort of marketing blarney that sophisticated investors don’t believe.”