Forget worrying about corporate collapses. The growth of PFI financing is playing havoc with public money. Eventually an Enron-style disaster will be rerun on a sovereign balance sheet.
Forget worrying about corporate collapses. The growth of PFI financing is playing havoc with public money. Eventually an Enron-style disaster will be rerun on a sovereign balance sheet.
JP Morgan Chase thought it had its Enron risks insured. Now it is fighting a legal battle to reclaim the money. The case raises wider questions about the effectiveness of credit insurance and the much-heralded convergence between banking and insurance.
If your image of sub-prime is of penal interest rates and unsavoury collection methods, think again. The sector is on its way to respectability and boosting banking profits. Nick Kochan reports