Things we're reading today include ...
UK
- Bank of England cuts rates to 0.5% and starts quantitative easing
(Guardian) - Bank to 'print' £75bn of new money as it cuts rate (The Times)
- FSA's Lord Turner to call for new banking oversight role (Telegraph)
- Lloyds in talks over toxic asset insurance and the taxpayer's stake (Guardian)
- Barclays questioned on funds (Financial Times)
- All to play for in battle for LCH.Clearnet (Financial Times)
- Morgan Cazenove reaps rewards from City fundraising stampede (Guardian)
Europe
- Europe’s banks face a $2 trillion dollar shortage (Telegraph)
- EU proposes measures to protect investors (Telegraph)
USA
- 20% of US mortgage borrowers fall into negative equity (The Times)
- Merrill's Top 10 Earners Made $209 Million in 2008 (Money News)
- Cuomo subpoenaes Merrill Lynch executives over bonuses (Telegraph)
Asia
- China disappoints with no new spending announced (Associated Press)
World
- World's poor suffering most in the credit crunch (Guardian)
- Facebook in 2010: no longer a walled garden (O'Reilly Radar)
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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...