Things worth reading: 28th May 2009

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