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Things worth reading: 19th October 2009

Things we're reading today include …

Today's must listen

Chip and PIN security flaws (BBC's Money Box Radio Show)

"Earlier this month, Money Box … reported flaws in the security of personal data kept on credit cards by the chip and pin system. After a big response by listeners, this week we revealed serious problems in a system used by Britain's biggest bank to help customers who have forgotten their PIN. The problem was identified by one Lloyds TSB customer who got in touch with us."


Royal Bank of Scotland to give huge bonuses (Times)
RBS executives set for record £4bn bonus bonanza (Independent)

Lloyds short-selling doubles as traders predict share collapse (Telegraph)
Lloyds Banking Group sells loss-making Halifax estate agency for £1 (Telegraph)

UK Treasury to receive £2.5bn Goldman Sachs tax boost (Telegraph)
Goldman Sachs bonuses should lead to a windfall tax (Times)

Bank of America chief Ken Lewis ordered to pay back salary (Guardian)
Congress calls on BofA directors to testify: source (Portland Tribune)
Despite denials, Feds knew of Merrill bonuses (Washington Times) 

Big four banks in a league of their own (The Australian)


Credit-Card Losses Underscore Challenges Facing Lenders  (Wall Street Journal)
UK faces long 'VW-shaped' recovery (Guardian)
Ex-FSA chief Sir Howard Davies sees 'dramatic’ risks for Britain (Telegraph)
Women debate a new way forward for the world's financial system (Guardian)


Bank reform: Basel gets tough on trading (Telegraph)
Ditch the Directive: MEPs begin three-point campaign to force changes to EU draft (Telegraph)
Tough new lending rules expected (BBC)


Hedge fund billionaire charged with insider trading (Daily Finance)
Six charged in $20m insider trade case (Financial Times)
The Rise & Fall of a Billionaire Technology Hedge Fund Guru (GigaOM)
Nicholas Levene: the runaway financier and the frantic hunt for £70m (Telegraph)

Quote of the Day:

“We are well placed to source great staff in Germany, but we had better be sourcing everywhere in the world if we want the best and brightest."

Outsourcing givesIT staff a world of opportunities, a report on Deutsche Bank's IT operations (Computing)

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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, 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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