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Things worth reading: 5th February 2009

Things we're reading today include …

Today's must read:

"Bank of America, through its top management, was motivated by self-
interest, greed, hubris, and a palpable sense that the normal rules of
fair play did not apply to them."

Andrew Cuomo, New York Attorney General
Ken Lewis charged with fraud over Merrill dealThe Independent

 

People

Companies

Santander's march on UK continues and RBS is nextThe Independent
Deutsche Bank pays £200m in bonus taxThe Independent
Nasdaq OMX Nordic predicts 25% volume growth Financial Times

Europe

Stock markets plunge over Europe debt fearsThe Times
Iceland 'lied' over the state of its banks before collapse, says Dutch central bankThe Telegraph
Iceland warns EU on Icesave rowBBC

Bonuses

The market has failed over bankers’ payThe Times

Markets

Banks shut low-use credit cardsFinancial Times
Bankers without Borders to expand microfinance programmeFinancial Times
Bank halts QE at £200bn despite 'sluggish' recoveryThe Independent

 

Quote of the Day:

"Plans for a £200 million flotation of Walton & Co, a start-up bank,
have been pulled because of a lack of support from investors."

Shortage of funds forces start-up bank to pull IPOThe Times

 

Watch of the Day (2 minutes):

How Kwedit works: a new system for buying virtual goods if you don't have a debit or credit card, and then get others to pay for it later or pay in cash.



About Chris M Skinner

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.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…

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