Things we're reading today include:
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Today's must read
“New malware being used by cybercrooks does more than let hackers loot a
bank account; it hides evidence of a victim’s dwindling balance by
rewriting online bank statements on the fly.”
New Malware Re-Writes Online Bank Statements to Cover Fraud
(Wired)
Crisis
How the government bailout saved our banks (Times)
Run nearly broke Royal Bank of Scotland (Times)
IMF sees EU banks losing over €400 bln by 2010 (Euractiv)
UK must not let 'zombie' banks drain the economy
(Telegraph)
Crisis leaves G7 on its last legs
(Financial Times)
Nigeria bails out four more banks (BBC)
US economic power 'is declining' (BBC)
Financial service sector could shed 60,000 jobs this year
(Telegraph)
Regulations
IMF Mulls a Global Bank Tax (Wall Street Journal)
Bank of England's Paul Tucker: banks should pay levy for cleaning up future crises
(Telegraph)
Alistair Darling to weigh new tax on banks (Times)
German banks fear drive for higher capital ratios will trigger 'dramatic' contraction (Telegraph)
Investment banks set for bonus curb talks (Independent)
Ministers hit back at bankers over regulation (Financial Times)
UK to refund HSBC taxes after EU ruling(Telegraph)
Technology
What shape will the wireless Web take? (McKinsey)
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Quote of the Day
“Is this a V recovery or a W? It’s the latter.”
Michael Geoghegan, Chief Executive, HSBC
HSBC chief fears a second downturn
(Financial Times)
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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...
