Things we're reading today include ...
Companies:
Nationwide hits out at savings protection scheme (Independent)
UBS chief Oswald Grübel defends decision to raise the salaries of investment bankers
(Times)
Santander’s renaming of UK banks will not cost it much
(Times)
Santander: who was Abbey's most famous customer? (Telegraph)
Regulations:
Financial services: Commission proposes stronger financial supervision in Europe, press release from the European Commission
The Joint Press Conference on European Financial Supervision, remarks by José Manuel
Barroso, Charlie McCreevy and Joaquín Almuniat
Europe tightens regulatory noose on City
(Telegraph)
Darling opposes EU super-regulator for banks
(Guardian)
The role of the ECB in financial crisis management, Speech by Lucas Papademos, Vice-President of the ECB
FSA makes six arrests over alleged insider dealing (Guardian)
Economic Crisis:
Unsung heroes of financial crisis fight for neutrality
(Financial Times)
Euro poised to inflict new wounds on Europe
(Telegraph)
Number of problem US banks soars (BBC)
Zombie banks walk among us
(CNN)
Bank of England’s Paul Tucker says banks should be taxed to pay for bail-outs (Telegraph)
The Greatest Swindle Ever Sold (how TARP went fro $700bn to $12tn)
(The Nation)
Quote of the Day:
"The government solution to any problem is usually at least as bad as the problem."
Milton Friedman
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...