Things we're reading today include ...
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Today's must read:
Goldman Sachs, Guns, and Bloomberg's B.S. - the Market Oracle
Bloomberg News has done a lot of good research during this financial crisis, so I was surprised yesterday when it released Alice Schroeder's article claiming Goldman Sachs Group Inc.'s employees are buying guns to protect themselves against an uprising against the bank.
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The Hundred Year War continues ...
Sarkozy cancels UK visit over City tension - Financial Times
Nicolas Sarkozy pulls out of Gordon Brown meeting after EU 'victory' boast - The Times
Michel Barnier is the City's only hope - The Telegraph
Bonuses
RBS board may quit if £1.5bn bonus plan is vetoed - The Independent
Lord Mandelson wades into row over RBS bonuses - The Times
Harriet Harman: RBS board is being reckless and irresponsible over bonuses - The Times
Bankers 'need to join real world' - BBC
Economies
Bailing out the banks cost £5,500 per family - The Telegraph
ECB starts to unwind some support - BBC
Bernanke defends his Fed record - BBC
Senate rounds on ‘moral hazard’ Bernanke as second-term vote set to be lowest in 30 years - The Times
Companies
BofA's $45 bln repayment clears way for new CEO - The Telegraph
Goldman Sachs admits canvassing shareholder opinion on pay and bonuses - The Telegraph
Technology
In Malawi, biometric ATMs confront traditional ways of moving money - CGAP
Quote of the Day:
"All investment bankers were 'sleazeballs' and dishonest."
Teacher to class, Barclays banker Hugh McGee wants son's teacher fired for 'sleazeball' comment - Telegraph
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The Finanser is sponsored by VocaLink and Cisco:
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...