Things we're reading today include ...
Today's must read
Global economic outlook 2009/10 (Deutsche Bank, 71 page pdf)
UK
Banks’ Plans to Pay Back Britain Pose a Dilemma (New York Times)
Bank of England will not target asset bubbles, say deputy governor Paul Tucker
(Telegraph)
FSA: Force banks to hold more capital (Guardian)
FSA to block banks from big bonuses
(Telegraph)
UK holds back on EU financial supervisor (Euractiv)
Europe
EU split on sharing burden of bank bail-outs (Euractiv)
European Central Bank joins criticism of EU proposals to regulate hedge funds
(Telegraph)
Rich Germans launch internet petition calling for higher taxes (Telegraph)
Russia drops $22.5bn lawsuit against New York Mellon (Times)
USA
Vote Backs a Financial Oversight Body (New York Times)
Fed Hits Banks With Sweeping Pay Limits (Wall Street Journal)
Fed Plans to Vet Banker Pay to Discourage Risky Practices (New York Times)
Wall Street faces double pay blow (Guardianl)
3 AIG execs get bonus OK from pay czar (CNN)
General
Risk Management Lessons from the Global Banking Crisis of 2008 (New York Federal Reserve, 36 page pdf)
Quote of the Day
"Everyone says banks must be boring but they need an incentive to be boring."
Sir George Parr, aka John Bird, on banker's bonuses
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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...
