Things we're reading today include ...
Today's must read:
"Bankers' wages took a record hit this year. Financial
wages dropped by a third, or $650 million, in the first quarter,
compared to the same January-to-March period in 2008, recent government
data show. That's the result of slashed bonuses and lost
financial-services jobs as the financial crisis battered Charlotte's
megabanks ... 'A good bonus season for Wells would do a lot
for the community', said Jim Walsh, a former Wachovia investment banker."
Banker wages: When $650 million doesn't show up (Charlotte Observer)
Bank of America Loses Bid to Dismiss Shareholder Merrill Suit
(Bloomberg)
BofA waives privilege on Merrill purchase (Financial Times)
JPMorgan tries to calm fears over UK (Financial Times)
Third of staff at RBS Coutts Singapore quit (Financial Times)
Barclays deal signals change in credit (Market Watch)
Dutch central bank takes over DSB (BBC)
BBA warns on capital rules (City A.M.)
EU plans to review mortgage access rules (Euractiv)
No Easy Answer to ‘Too Big to Fail,’ Nobelist Williamson Says
(Bloomberg)
What Volcker really wants (The Deal)
Al-Qaeda 'faces funding crisis' (BBC)
Quote of the Day:
"Money doesn't buy you happiness. But it buys you a big enough yacht to sail right up to it."
Johnny Depp
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...
