Sign In / Register
Sign In
Job of the Week
Search-
-
LegalWeek
POWERED BY LAW.COM -
- LegalWeek Home
- Law.com
- Publications
- Law Topics
- International
- Surveys & Rankings
- Law Firms
- Legal Ladder
- Lean Adviser
- Events
- Jobs
- All Sections
- About Us
- Contact Us
- All Sections
- Advertise
- Customer Care
- Terms of Service
- FAQ
- Modern Slavery Statement
- Privacy Policy
- Follow LegalWeek
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.
Analysis
Neil Griffiths: Certainty goes out the window
This week has seen a seismic shift in the financial world. No-one can predict where the aftershocks will hit or where it will end, although many will try. Only one thing is certain: things will never be quite the same again. Since the Northern Rock affair began a year ago, the focus in the UK has been on systems and structures. The so-called Tripartite oversight structure, involving the Treasury, the Bank of England and the Financial Services Authority, displayed crucial flaws. It was compared unfavourably by some with the supposedly more direct and decisive regime in the US, epitomised by the swift Federal Reserve-supported takeover of Bear Stearns. Heads rolled in the UK as the country's banking insolvency and depositor protection regime was said to be inadequate - although the biggest supervisory scalp, that of the Governor of the Bank of England, remained intact, as did the political scalps of the Chancellor and the Prime Minister (although neither appears particularly secure right now). Some minor reforms were rushed through and more were promised. Discreet - 'covert' - rescues were said to be made impossible by cumbersome European regulations.
This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651
Trending Stories
-
Recommended Stories
African Legal Awards 2018: Employment Law Team of the Year: ENSafrica
Full details of the Employment Law Team of the Year category at the African Legal Awards 2018
Trio cream off roles on £975m Dairy Crest sale
Eversheds takes key role for sale of company that produces Cathedral City cheddar, Frylight cooking spray and Country Life butter
The case against KPMG: When does a team hire become a crime?
A disagreement about a break clause agreement is likely to be at the centre of a dispute between KPMG and French firm Fidal over a 144-lawyer raid
Think Lean Daily Message
"It has been said of Steve Jobs that simplicity was the lens through which he observed everything. If an idea, design or concept didn't regis..."
More from ALM
-
Employment 0-3 pqe
London, United Kingdom
Interesting opportunity for an ambitious, junior to mid-level employment lawyer at this growing, non-traditional, practice. The role would...
Apply Now › -
Conveyancing Legal Secretary - Beeston, Nottinghamshire
£Competitive, United Kingdom
JOB TITLE: Conveyancing Legal Secretary PQE REQUIRED: 1+ years experience LOCATION: Nottinghamshir...
Apply Now › -
Property Solicitor - Colne
Colne, United Kingdom
JOB TITLE: Property Solicitor PQE REQUIRED: 4+ PQE LOCATION: Colne SALARY: ...
Apply Now ›
-
The Art and Science of Defensible Deletion
From Epiq
Deleting unneeded legacy data can produce long-term cost, time and efficiency benefits for any organisation. Discover how to leverage defensible deletion to improve your business operations today.
-
From Data to Decisions
Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends.
-
Exclusive Depth and Reach.
Legal Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.
-
Big Pictures and Fine Details
Legal Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.
-
-
Trust & Estates Litigation Forum 2019
March 07, 2019 - March 09, 2019
GironaAnnual forum for the world's leading trust and estate litigators.
-
Asia Legal Awards 2019
March 21, 2019
Hong KongWhere the region's top lawyers, law firms, and in-house teams gather to celebrate their most stellar achievements of the year.
-
Global Independent Law Firms Forum 2019
March 27, 2019 - March 28, 2019
LondonConference for leaders of independent law firms from around the world, chaired by Charles Martin, Macfarlanes' senior partner.
-
webseminar
2018 eDiscovery Key Case Law Review
Sponsored by: Epiq | October 29, 2018
Stay abreast of ever changing case law in eDiscovery by saving your spot at this webcast that reviews the most impactful case decisions from 2018 so far.
-
webseminar
Why Mediations Fail & How to Achieve Better Results
Sponsored by: NAM (National Arbitration and Mediation) | August 28, 2018
[ON-DEMAND] Join this discussion to learn how investing a modest amount of time in advance of a mediation session can reduce the potential for an impasse, and ultimately save time and money.
-
webseminar
Critical Marketing Skill: How to Manage, Generate & Improve Law Firm Online Reviews
Sponsored By: LexisNexis | July 18, 2018
[ON-DEMAND] Join Matt Starosciak - attorney, consultant and author of The Lawyer Marketing Book - as he outlines the importance, process, and specific challenges associated with managing a law firm's online reputation.
Legal Week Newsletters & Alerts
Sign Up Today and Never Miss Another Story.
As part of your subscription, you can sign up for an unlimited number of a wide range of complimentary newsletters and alerts. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.
Follow Us
Publications
Law Topics
Rankings
More
Copyright © 2019 American Lawyer Media International, LLC. All Rights Reserved.
