Things we're reading today include ...
Banking regulation 'not to blame' (BBC)
Alistair Darling to tell banks and regulators 'no excuses' (Telegraph)
British Bankers' Association warns reforms could harm UK (Telegraph)
Monetary policy challenges in light of the current financial market developments (Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB)
Commission launches consultation on how to ensure responsible lending and borrowing in the EU
US banks to break free of state assistance (Financial Times)
Citigroup CEO tells national summit attendees to expect tight credit, corporate restructurings (Fox)
Goldman's Blankfein issues apology as bank prepares to repay $10bn (Telegraph)
Obama warns Wall Street as banks begin repayments (Times)
Give us more clout at IMF, say BRIC nations (Independent)
Groups have up to $1,000bn locked up in working capital (Financial Times)
Quote of the Day:
"If you're an incumbent in any industry, and rapid change is underway,
you're uncomfortable, even if long term it's going to be good."
Jeff Bezos, CEO, Amazon at the Disruptive by Design conference last week
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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...
