Things we're reading today include ...
Today's must read:
Goldman takes too narrow a view to be doing God’s work - Chris Blackhurst, the Evening Standard
"Where Goldman has come unstuck, and where Dimon has been able to strike a harmonious note, is in dealings with politicians and the non-financial media and wider public. Being smart on a particular trade or adding a twist to a merger is bound to earn the acclaim of your banking peers; making politicians and those who do not care for the intricacies of finance believe you can be a force for good is quite another. Dimon has got it; Goldman, alas, has yet to do so."
Banks
IMF leader Dominique Strauss-Kahn says public will not tolerate another bailout - The Times
Only half of banks' losses have been revealed, CBI summit told - the Evening Standard
S&P raises fears over health of some banks - Financial Times
Independence 'would cost banks billions' says OECD - The Telegraph
Britain's bank bailout may have broken world trade rules - The Telegraph
Regulations
Critics condemn backtrack on plans to identify highearning bankers as 'feeble' - The Telegraph
Lord Turner interview: Time for truth Adair and consequences - The Telegraph
Companies
RBS chief Stephen Hester and his slice of humble pie - The Times
JP Morgan Chase chief executive Jamie Dimon touted as successor to US Treasury Secretary Tim Geithner - The Telegraph
Markets
World economy grows again but risks remain, warns IMF - The Independent
China derivative rule change hits banks - Financial Times
Quote of the Day:
"Despite the financial crisis, cashless payments increased, on a global basis, by almost 9% to 250 billion transactions per year in 2008."
The Progress of Migration to SEPA, a keynote address by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the British Bankers’ Association
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...