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Things worth reading: 22nd October 2009

Things we're reading today include …

Today's must read:

Fraudster Bernard Madoff shares cell with a drug dealer and a
spy
 (Times)

Mervyn King versus Gordon Brown

Clash between Downing Street and King continues (Times)
King and Brown in rift over whether to split the banks (Independent)
Brown takes on the Bank, not the banks (Independent)
Did Mervyn King really write his own speech? (Telegraph)

Barack Obama versus Bank Bonuses

Obama's pay tsar to cut executive salaries by up to 90pc (Telegraph)
A New Challenge for 2 Ailing Banks  (New York Times)

Results

Lehmans’ clients may claim interim income, court rules (Times)
Morgan Stanley $757m in the black after months of losses  (Independent)
Compromise Bill Could Block States on Bank Rules (New York Times)
Deutsche Bank Expects to Post $2 Billion Profit  (New York Times)
Wells Fargo Says Profit Doubled in Quarter  (New York Times)
Paulson revealed policy at Goldman Sachs meeting, book alleges (Times)

Markets

Fraud office investigates missing ‘Beano’ City trader (Times)
Chinese economy grows at fastest pace in a year (Telegraph)
SEC Proposes Tighter Limits on Dark Pools (New York Times)

Quote of the Day:

"Honey, I’d shrink the banks."
Adam Posen: Honey, I’d shrink the banks (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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  • Brian Peters

    Sirs,
    I’d commend to your readers a report issued yesterday by the Senior Supervisors Group titled Risk Management Lessons from the Global Banking Crisis of 2008 that reviews in detail the funding and liquidity issues central to the recent crisis and explores critical areas of risk management practice in need of improvement across the financial services industry.
    It can be found at:
    http://www.newyorkfed.org/newsevents/news/banking/2009/ma091021.html

  • Chris Skinner

    Great input Brian
    Thanks