A conversation with Lord Peter Levene, Chairman of Lloyd’s

with Peter Levene
in Current Affairs, Business
on Thursday, June 26, 2008 * * * * *

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A conversation with Lord Peter Levene, Chairman of Lloyd’s of London.

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Keywords:
IFSL
London
China
United Kingdom
Lloyds
finance
Bank

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  • Comments 7
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    1. Susan Hardwood  07/20/2008 12:25 PM Report

      Why Charlie decided to interview this droll blowhard is beyond me.

    2. z  07/06/2008 06:14 AM Report

      The guest was the chairman of Lloyd’s but insurance was discussed less than 3 minutes. I understand that going through general topics is a safe way but this is not what we are used to watch in this great show. Please let us share with your guests some aspects of their business. Thanks

    3. Ricardo C. Amaral  06/28/2008 10:13 PM Report

      Mr. Levene started talking about Brazil a country with 200 million people and a fast emerging market, and then Charlie changed the subject of the conversation and started talking about Ireland. Who cares about Ireland? The city of Sao Paulo alone has 5 times the population of Ireland. As a matter of fact we have boroughs inside Sao Paulo that has more people than in Ireland. Thousands of people took the time to read my article published in September and October 2007 and one of the reasons that the article caught the attention of a lot of people it was because I discuss the global water problem in detail you can read it at:

      “The Smartest Thing China Could Do Right Now: Invest US$ 200 Billion in Brazil”

      Part 1 of 4 Written by Ricardo C. Amaral Sunday, 30 September 2007

      http://www.brazzil.com/index.php?option=com_content&task=view&id=9977&Itemid=80

      “The Smartest Thing China Could Do Right Now: Invest US$ 200 Billion in Brazil”

      Part 2 of 4 Written by Ricardo C. Amaral Thursday, 04 October 2007

      http://www.brazzil.com/articles-mainmenu-80/184-october-2007/9979.html

      “The Smartest Thing China Could Do Right Now: Invest US$ 200 Billion in Brazil”

      Part 3 of 4 Written by Ricardo C. Amaral Wednesday, 10 October 2007

      http://www.brazzil.com/articles-mainmenu-80/184-october-2007/9983.html

      “The Smartest Thing China Could Do Right Now: Invest US$ 200 Billion in Brazil”

      Part 4 of 4 Written by Ricardo C. Amaral Tuesday, 16 October 2007

      http://www.brazzil.com/articles-mainmenu-80/184-october-2007/9985.html

    4. karen aranas  06/27/2008 04:12 AM Report

      Re the problem of access to potable water: Have you ever interviewed the inventors of the Life Straw, which is an inexpensive water purifier that instantly changes dirty water into water clean water fit for consumption. It is produced by the Swiss Company, Vestergaard Frandsen.

    5. skeptic  06/27/2008 01:36 AM Report

      RE Mant - Agreed with what I read. Seemed to single out one aspect to exclusion of all else, but interesting. If technology/science advanced to point where the machines could make even better machines (with or without our input?), where does that put mankind? Moot! As I think Sir Isaac Newton's 2060 prognosis is too optimistic.

    6. skeptic  06/27/2008 01:12 AM Report

      Does Lloyds insure governments-for-hire auctioned to the highest bidder? Venal whores and financial wise-guys, speculators, and hedge fund savants are all included. They may pay the premium with OPM, as they seldom use their own - except for luxuries of course. They are hurtling us to a bannana-republic status, with subprime greed and M-I budget manipulations. Inflation (1000's%/day?) are possible ala Argentina et al. Our overextention has to be encroaching child-like unreality. The adults apparently have all evolved to a more mature planet.

    7. RE Mant  06/27/2008 12:14 AM Report

      That foreign cos open factories in other countries gives the lie to the assertion that those countries are "too rich to manufacture" to use Wanniski's expression, and the jobs are replaced by those in the service sector. While some few service jobs can be considered managerial, financial or R&D, most are the same as any old upper class's servants, even if independent businesses. An increase in service jobs means quite simply that an economy is regressing towards feudalism. Machines were meant to replace services not to enslave or replace workers. There is no reason why ppl should benefit from mass-production disproportionately. Americans want cheap goods, but it is because they want to be able to afford them. If they could afford them without buying them in China they certainly would. To say that the Chinese inherently make them cheaper and therefore we should buy from them is to denigrate the Chinese and is certainly self-serving. To say there should be a parity between the US and China is fine, but it should not come at the expense of the people who have worked for generations to gain what they have, and to say free-trade, under these circumstances, would be more efficient because foreigners will work more cheaply is complete nonsense. That's not comparative advantage, it is exploitation and it will someday the tables will be turned. And all of this neglects the question of the purpose of work. As E F Schumacher wrote in 1969: "...the modern economist has been brought up to consider 'labour' or work as little more than a necessary evil. From the point of view of the employer, it is in any case simply an item of cost, to be reduced to a minimum if it cannot be eliminated altogether, say, by automation. From the point of view of the workman, it is a 'disutility'; to work is to make a sacrifice of one's leisure and comfort, and wages are a kind of compensation for the sacrifice. Hence the ideal from the point of view of the employer is to have output without employees, and the ideal from the point of view of the employee is to have income without employment. If the ideal with regard to work is to get rid of it, every method that 'reduces the work load' is a good thing....The most potent method, short of automation, is the so-called 'division of labour' and the classical example is the pin factory eulogized in Adam Smith's Wealth of Nations. Here it is not a matter of ordinary specialization, which mankind has practised from time immemorial, but of dividing up every complete process of production into minute parts, so that the final product can be produced at great speed without anyone having had to contribute more than a totally insignificant and, in most cases, unskilled movement of his limbs. The Buddhist point of view takes the function of work to be at least threefold: to give a man a chance to utilize and develop his faculties; to enable him to overcome his ego-centredness by joining with other people in a common task; and to bring forth the goods and services needed for a becoming existence. To organize work in such a manner that it becomes meaningless, boring, stultifying, or nerveracking for the worker would be little short of criminal; it would indicate a greater concern with goods than with people, an evil lack of compassion and a soul-destroying degree of attachment to the most primitive side of this worldly existence. Equally, to strive for leisure as an alternative to work would be considered a complete misunderstanding of one of the basic truths of human existence, namely that work and leisure are complementary parts of the same living process and cannot be separated without destroying the joy of work and the bliss of leisure...the Buddhist sees the essence of civilization not in a multiplication of wants but in the purification of human character. Character, at the same time, is formed primarily by a man's work. And work, properly conducted in conditions of human dignity and freedom, blesses those who do it and equally their products...." Last, I strongly suspect that few Europeans would agree with Milord's perspective on this.