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."
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
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