Things we're reading today include ...
Companies
Lloyds Banking Group names Sir Win Bischoff as new chairman (Telegraph)
Shockwaves due from Bear Stearns (Evening Standard)
Five Firms Hold 80% of Derivatives Risk, Fitch Report Finds (CFO Magazine)
Citi ‘milestone’ as Washington takes 34% stake (Financial Times)
American Express Launches OPEN Forum Social Media Site (Payments News)
Bank Lending Row
Alistair Darling to press back chiefs on lending as RBS starts ad campaign (Telegraph)
Darling to grill UK bank bosses on lending (Times)
Banks set for losses as clock ticks on £300bn commercial property loans (Times)
French SMEs struggling to access credit despite stimulus (Euractiv)
Loans Shrink as Fear Lingers (Wall Street Journal)
World News
City lobbying helps water down European hedge fund legislation plans (Guardian)
Dubai boom ends as one in four cheques bounce (Times)
Bernanke: Economy to bounce back stronger (CNN)
Forget Aloof, Bernanke Goes Barnstorming (New York Times)
Guess which country escaped recession? (City AM)
General
A customer and his money are soon parted if a smart card means no queue (Times)
Quote of the Day:
"Because I can borrow £7 million from you at 3% and lend it in Russia at 17%."
Wealthy Russian when asked by RBS UK why he needed a £7 million mortgage
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...
