Barings Report Attacks 'Institutional Incompetence'

The Singapore Ministry of Finance last week released its long-awaited report into the events leading to the collapse of the Barings banking group earlier this year. The report was compiled by Nicky Tan and Michael Lim, two consultants working for Price Waterhouse in Singapore.

In both style and content, their findings contrast heavily with previous Barings enquiries. Tan and Lim may hedge their trades, but they certainly don't mince their words. The government report meticulously catalogues faul