insto - Australian financial markets

I could not put down Liaquat Ahamed's riveting biographical account of 'the bankers who broke the world' - the central bankers, that is. ("Lords of Finance", William Heinemann, 2009).

Those that lorded it over the global economy during the Great Depression were Montagu Norman of the Bank of England (1920-1944); Benjamin Strong of the Federal Reserve (1914-1928), Horace Greely Hjalmar Schacht of the Central Bank of Germany (1933-39) and Aime Hilaire Emile Moreau of the Banque de France (1926-1930).

With the holiday season approaching, we've reviewed a couple of biographies - local and international - showing how closely human failings underlie the trappings of success.

The A-grade NSW Country Club was the venue for the inaugural Singapore Airlines/Insto Financial Services golf day, reports our debt editor, Jonathan Shapiro.

It was a great contest thanks to superb conditions on the home of the 2009 Australian open.

Focus shifted from debt markets to the fairways but chatter on the greens was of a resurgent issuance market with Kangaroo borrowers and major banks looking to land deals on the sweet spot.

The Salvation Army has issued a call to the business community for generosity in personal giving, in addition to corporate giving. Salvos’ spokesperson Major Paul Kinder said: “With budgets for corporate philanthropy tightening, we will be relying more than ever on generous individuals with the capacity to make significant gifts on top of their company giving.

Investment advisor Les Fallick has plenty to say about collecting artworks. He favours letting the heart rule the head and the wallet, writes Bernard Kellerman.