Edward Hadas is Economics Editor at Reuters Breakingviews. He joined Breakingviews in both 2004 and 2011, with a year in between at the Financial Times as Assistant Editor of the Lex column. Before becoming a journalist, he worked for 23 years as an equity analyst in Europe and the US. He has written a book, Human Good, Economic Evils: A Moral Approach to the Dismal Science (ISI Books, 2007), and a course-book about political philosophy for the Maryvale Institute in Birmingham. Edward has degrees from Columbia University, Wadham College, Oxford and the State University of New York at Binghamton. He has a website, edwardhadas.com. Follow Edward on Twitter @edwardhadas
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It’s easy to see danger in the Saudi-led bombing of the strategically located country. But it might end in a standoff in which neither Iran nor Saudi Arabia dominate the Middle East. That could lead to an uneasy truce, much higher Iranian production, and cheaper crude.
The German bank spent two decades expanding massively into the capital markets business. Along the way, it lost touch with its original mission of serving German businesses and their owners, without finding a viable new one. The crisis has spurred a return to traditional values.
Global supervisors are nobly trying to improve a market which has too often pitted traders against clients. Increased transparency and stricter discipline can help make the culture more professional, but it will be hard to stamp out profitable and entrenched bad behaviour.
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