Original version

BBC World Service Online

Business Daily

Factual: Money

The daily drama of money and work from the BBC.

Business Daily: Dry Tinder

23/03/2010

Dry Tinder

BBC World Service - Business Daily, Dry Tinder

Wall Street's favourite lawyer says there is still 'dry tinder' in the banking system.

Wall Street's favourite lawyer says there is still 'dry tinder' in the banking system. Rodgin Cohen warns that the tinder could be set alight by 'lightning strikes and arsonists'.

Rodgin Cohen, as Wall Street's most influential lawyer, had a ringside seat at the biggest dramas of the financial crisis. He was in the room when major financial rescues were arranged in 2008, to prop up failing companies such as Bear Stearns,  Wachovia, and AIG. And he was part of the  negotiations which failed to save Lehman Brothers from bankruptcy. 

He told Lesley Curwen that danger still exists in the banking system. Calling it 'dry tinder', he suggested it could be set alight by 'lightning strikes and arsonists'. 

Plus, could any future crisis be made worse by short-selling? Jamil Nazarali, from Knight Equity Markets in New York defends short-selling and argues against moves to restrict its use in US markets.

And, Said Darwazah, Chief Executive of Hikma Pharmaceuticals discusses the business of leading one of the biggest drug companies in the Middle East.

Plus, the BBC's Mark Tully reflects on the cost of paternalism in India's tea industry.

Accessibility links

Programme Index

Business Daily

Dry Tinder

Genres

Brand

BBC World Service Online

About BBC World Service