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Things worth reading: 17th August 2009

Things we're reading today include …

Today's must read

Heroes to zeros … and back again

"After fleeing to exile last year, Fred 'the Shred' Goodwin is coming home …

"David Yelland, the former editor of the Sun who is now a leading
City PR adviser, says the problem facing Goodwin is that he made so few
allies on the way up. 'He hasn't got enough friends. He didn't make
enough in the good times to help him in the bad times.' Yelland … says helping Goodwin make a comeback 'will
not be the easiest rehab in history'. He rates it on the same scale as
that of John Profumo, the Tory minister caught up in the infamous 1960s
sex-and-spies scandal."

The Bonus Row

Barclays £30 million offer sparks City pay row (Telegraph)
Bankers bag £7.6bn in bonuses (Telegraph)
Bankers defy Tory bonus criticism (BBC)
Kick galacticos bonus strategy out of the City, say academics (Guardian)
Alistair Darling: new law to curb City bonuses (Times)


Nigeria Plans $2.6 Billion Bank Bailout, Ousts Top Executives (Wall Street Journal)
Nigeria takes control of five banks that failed stress tests (Financial Times)


Criminal complaints filed against ex-UBS bosses (Business Week)
Rising wave of fraud plunges Bradford & Bingley deeper into the red (Times)


Micropayment for a Twitter Joke? (Reve News)

Quote of the Day:

"I don't care if a prospect is out there trying to sell the clunkiest
piece of useless sh*t since Crocs, we're dumping cash on it."

Leaked Morgan Stanley Memo Reveals Wall Street Plans to "Throw Money All Over the Place" When Economy Recovers (The Spoof)

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About 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...

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