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Things worth reading: 22nd September 2009

Things we're reading today include …


Today's must read

Why much of the G20 debate on banking reform is futile (Telegraph)

"Will the mass of new banking regulation under discussion at this
week's G20 summit in Pittsburgh succeed in recreating the expected
combination of safety for our money and the easily available credit
economies need for growth and prosperity? From where I sit, it looks far
from assured.
Sure enough,
most of what's proposed on leverage, capital and liquidity ought
to ensure that banks are safer. But the measures proposed will also make
credit scarcer and more expensive, as well as raising barriers to entry in
an industry desperately in need of more competition."


G20

G20 'to call for economy balance' 
(BBC)

G20 to give regulators power to curb bank bonuses (Times)

Companies

RBS investors warm to £3bn rights issue (Telegraph)
RBS has to reconsider rights issue after investors lose appetite for fundraisings (Times)
RBS 'not a toxic brand' says boss
 (BBC)
Duff McDonald on Jamie Dimon (Business Week)
Bank of America faces bonus trial (BBC)
Bank of America pays $425M to end U.S. guarantee 
(CNN)

Dell to acquire Perot for $3.9bn 
(BBC)

Regulations

France, Britain converge on EU hedge fund rules (Euractiv)
Nations' economies face hedge fund attack without co-ordinated financial crisis exit plan (Telegraph)
EU to table new banking rules, overlooks burden-sharing 
(Euractiv)
HSBC chairman Stephen Green pushes for banking reform despite economic recovery (Telegraph)

Economies

ECB: Credit misery drags on for small firms 
(Euractiv)
EU recovery may lag behind UK and US, says OECD (Telegraph)
Asian cities catch up with London 
(Financial Times)
F.D.I.C. May Borrow Funds From Banks 
(New York Times)

Quote of the Day:

"Out of how many customer-service desks, out of how many registers she could have gone to, and she had to come to me?"

J.C.Penney retail clerk Michelle McCambridge on finding her own stolen identity being presented to her by a stranger for the opening of a new account
Identity-theft victim meets her identity thief (Seattle Times)


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About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.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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