Things we're reading today include:
- Lloyds boss to come clean on tax (The Times)
- Angry investors call for heads of Lloyds bosses (Independent)
- Bank of England's £150bn injection may not work, economists warn (Telegraph)
- Treasury blocks Bank of England chair (Telegraph)
- Why the Bank of England may have just signed free banking's death warrant (Independent)
- IMF: Fifth of Britain's GDP spent so far on bailouts (Guardian)
- GM, banks' fate to keep investors on edge (Reuters)
- Who got AIG's bailout billions? (Reuters)
- World Bank Says Global Economy Will Shrink in ’09 (New York Times)
- World's biggest banks to meet in London (Reuters)
- Goldman Sachs CEO warns against nationalization (Welt)
and nothing to do with banking, but a fascinating story about the new Secretary of
State Hillary Clinton's tour of Europe. Upon meeting the Russian Foreign Minister Sergei Lavrov, Ms. Clinton gave him this present:
It's meant to be a red button that reset's the relationship between America and Russia. Unfortunately, Sergei pointed out that Peregruzka actually means 'overcharge', not 'reset' as Ms. Clinton's office had surmised.
Lucky it didn't mean 'launch' is all I can say!