Things worth reading: 24th July 2009

Things we're reading today include:

Today's must read

I don't like to headline the blog with something called "The Misery Index", but the Huffington Post did so, if it's good enough for them, then it's good enough for me.

"The original Misery Index is a formula created by economist Arthur Okun
that adds the current unemployment rate to the yearly increase in the
consumer price index" ... the Real Misery Index "combines a more accurate unemployment statistic (the U6 formulation),
with the inflation rate for three essentials (food and beverages, gas,
medical costs), and year-over-year percent increases in credit card
delinquencies, housing prices, food stamp participation, and home
equity loan deficiencies."

Companies

Credit Suisse finally joins the big leagues 
(Telegraph)
ICE to launch ‘buyside’ CDS clearing service 
(Financial Times)
EBay Plans to Ride PayPal Business to Greater Profit  (New York Times)

The FSA

FSA hits back at critics but struggles to find staff (Independent)
We've changed, claims financial watchdog's chief 
(Guardian)
Brown rails against Tory plans to abolish the FSA 
(Independent)

UK

UK companies warn on OTC derivatives reform 
(Financial Times)
Bank reform hurt by political row, says Lord Turner 
(Independent)
Brussels gives UK five years to fix RBS and Lloyds (Telegraph)
Big Brother bankers need to look at how they treat businesses 
(Telegraph)

World

Bailout risk: $23.7 trillion? More like $3 trillion 
(CNN)
Ugandan shock as bank disappears
 
(BBC)

Technology

The impact of ISO 20022 on payments services in general and SEPA in particular 
(European Payments Council)
Banks failing to satisfy online customers (V3)

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Quote of the Day:
"Hangover: the wrath of grapes."
Dorothy Parker

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