Lehman Brothers

Talking points

PUBLISHED : Wednesday, 06 June, 2012, 12:00am
UPDATED : Wednesday, 06 June, 2012, 12:00am


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Our editors will be looking ahead today to these developing stories ...

Democrats take Legco ban to High Court

The High Court hears arguments by League of Social Democrats lawmaker 'Long Hair' Leung Kwok-hung and member Anson Wong Hin-wai (left) in a judicial review of a law that bars anyone with a pending prison sentence from being nominated as a candidate or elected to the Legislative Council. Leung was sentenced in March to two months' jail for disrupting a forum last year on a proposal to scrap Legco by-elections. Wong was sentenced to two weeks for disrupting a minister's speech last year in protest against an MTR fare rise. The 14-day nomination period for the election will close in July or August.

Watchdog reports on European corruption

In addition to the stupidity and negligence of its fiscal leadership, Europe also has a corruption problem, according to Transparency International. 'One year ago the European Commission unveiled its anti-corruption policy, but that hasn't stopped corruption scandals from erupting across Europe,' the Berlin-based anti-corruption watchdog notes. 'Past leaders are on trial in France and Italy, have resigned in Germany and governments have fallen in Latvia, Slovakia and Romania.' It says its report on the issue, to be published today, will cover more than 300 national institutions, including political parties, parliaments, judiciaries and private sector players.

WikiLeaks suspect Bradley Manning faces hearing

Bradley Manning (left), the US Army private accused of leaking hundreds of thousands of classified documents to the WikiLeaks whistle-blowing website, appears at a preliminary hearing in his court martial at Fort Meade, a military base in Maryland. Manning, who was an intelligence analyst in Baghdad, has been in custody since he was charged in May 2010. His treatment at the US Marine Corps' Quantico base, where he was held in virtual solitary confinement for 23 hours a day in a single-bed cell, caused support for him to swell.

Economic data expected to show Europe standing still

Economic data from the euro zone may show the 17-nation grouping is at a standstill, with gross domestic product in the first quarter expected to be zero, unchanged from the previous quarter. April factory output data from Germany, the euro zone's biggest economy, is expected to show growth slowed to 0.9 per cent year on year, sharply down on the 1.6 per cent for March and pointing to a possible recession in the euro zone this year.

JPMorgan chief explains US$2bn loss to US Senate

Jamie Dimon (left), chief executive of JPMorgan Chase, is expected to testify at a US Senate panel about his investment bank's US$2 billion-plus loss due to a trader's mistake in trading derivatives. Dimon has called the misstep 'a black mark', and the loss has revived Democrats' push for stricter oversight of Wall Street banks under the 2010 regulatory overhaul.

Legco's Lehman Brothers subcommittee tables report

Legco's subcommittee investigating the Lehman Brothers minibond saga tables its report into the financial collapse that dented the pensions of hundreds of Hongkongers. Most investors have been repaid up to 70 per cent of their initial investment, but some are still seeking a full refund and will hold a rally outside Legco seeking government help to reclaim their cash.