Things we're reading today include ...
Today's must read:
The
president needed the gravitas of the former Fed chairman to sell his
bank reform to Wall Street. But when the big banks didn't buy it, Obama
sold him out.
How
Obama Screwed Volcker - The Daily Beast
People
Warren Buffett raps failed bank chiefs - The Times
Buffett says executives who manage risk badly should
pay - Financial Times
Michel Barnier: the most dangerous man in Europe? -
The Telegraph
HSBC and Standard Chartered bosses to give bonuses to
charity - The Telegraph
BoA's investment bank chief earns table-topping $30m
- The Telegraph
$73m BofA package for Lewis - Financial
Times
Companies
Lloyds slumps to £6.3bn loss as bad debts balloon -
The Telegraph
A casino bank at Lloyds? It didn’t need one - The Times
RBS fears £1bn loss from staff defections - The Telegraph
Analysis: RBS investment arm made more money than the
rest of the bank combined - The Telegraph
HSBC's £7bn profits to offer insight into Asian economy
- The Telegraph
Cazenove partner: I tossed a coin to pick stocks -
The Telegraph
UBS drops to third in table of biggest advisors to
FTSE100 companies - The Telegraph
AIG records $9bn quarterly loss - BBC
Goldman Sachs: the bank they love to hate - The Times
Markets
Bank for International Settlements reports further
£235bn slide in global lending - The Telegraph
Analysis: Losing money was the bankers' target all
along - The Telegraph
California is a greater risk than Greece, warns JP
Morgan chief - The Telegraph
Quote of the Day:
"US bankers were furious about attempts to reduce pay throughout the
industry, arguing that any such move smacked of socialism and would be
fiercely resisted."
US banks veto 'socialist pay' in secret talks - The Independent
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...