Things worth reading: 10th August 2009

August 10, 2009 by Chris Skinner

Things we're reading today include ...

Today's must read

Don’t Dismiss Taibbi (Columbia Journalism Review)

Mainstream financial journalism is doing its level, eye-rolling, heavy-sighing best to stuff Matt Taibbi back into the alt-press hole he came from, but he’s not going along with it, and the mainstreamers in any case are making a big mistake.
The Rolling Stone writer cemented his status as the enfant terrible of the business press with “The Great American Bubble Machine,” a 10,000-word excoriation of Goldman Sachs.

Companies

Bischoff to lead Lloyds to £15bn fundraising (Times)

Paypal adds new fees with no notice (Gadgetell)

Deutsche spied on me like the Stasi, says lawyer (Times)

Regulators

Regulator denies leisurely style (BBC)

FSA chief rebukes ministers over bank bonuses (Financial Times)

Paulson’s Calls to Goldman Tested Ethics (New York Times)

Where did that bank bailout go? Watchdogs aren't entirely sure (Yahoo!)

The Crisis

IMF puts total cost of crisis at £7.1 trillion (Telegraph)

Bad debts at top banks reach £85bn since onset of credit crunch (Guardian)

Bank mortgage lending falls by nearly £40bn (Telegraph)
(US) Banks make $38bn from overdraft fees (Financial Times)

When will we get our money back? (BBC)
Restoring the reputation of Scotland’s banks (Financial Times)

Why not stop the free cash and call the bankers' bluff? (Telegraph)
A Swiss lesson in how to solve the banking identity crisis (Financial Times)

General

Loans by text show we're not getting the message on debt (Telegraph)

How Americans Got Into a Credit Card Mess (Time Magazine)

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Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...