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Things worth reading: 8th August 2009

Things we're reading today include …

Today's must read
Was the Twitter DDoS attack Cyber Warfare? (Search Engine Journal)
"The attack on Twitter was also directed at FaceBook. For hours, as
CNN, BBC, Yahoo and others reported on this remarkable incident, there
was a great deal of speculation as to what caused the outage … CNET was first to break the story
that the DDoS attack actually targetted a single, Georgian blogger who
has been giving the Russian forces a run for their money."


Royal Bank of Scotland's results

RBS chief Stephen Hester says there is no 'miracle cure' as bank slumps to £1bn loss (Telegraph)
RBS gets honest in a sobering message to debt-addicted Britain  (Telegraph)
RBS boss Stephen Hester on bad debts, bonuses and the economy (Telegraph)
What RBS's results say about QE (Robert Peston)
RBS offering footballers and wealthy secret mortgage deals (Telegraph)
RBS and Lloyds bank shares soar on talk of APS changes (Telegraph)

Other bank news

France targets bankers' bonuses (BBC)
Investigation into Kaupthing loans to UK retailer's firm (Guardian)
Big four banks reveal gaping wounds from reckless lending (Times)
State-owned banks need their prophecies of recovery to be self-fulfilling (Telegraph)
Why the banks need Zopa (Zopa blog)


Death in the Recession: More Bodies Left Unburied (Time Magazine)
Did we have friends before social networks? (Times)
Women are better at ousting the boss than making money, academics say (Times)

Quote of the Day
“We sometimes feel as if commentators variously want us to go back to
over-lending, to operate on a ‘not for profit’ basis, to never
entertain a client and to offer employment conditions that deter the
best and brightest,”

Stephen Hester, CEO, Royal Bank of Scotland (Financial Times).


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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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