Things we're reading today include:
- Lloyds boss to come clean on tax (The Times)
- Angry investors call for heads of Lloyds bosses (Independent)
- Bank of England's £150bn injection may not work, economists warn (Telegraph)
- Treasury blocks Bank of England chair (Telegraph)
- Why the Bank of England may have just signed free banking's death warrant (Independent)
- IMF: Fifth of Britain's GDP spent so far on bailouts (Guardian)
- GM, banks' fate to keep investors on edge (Reuters)
- Who got AIG's bailout billions? (Reuters)
- World Bank Says Global Economy Will Shrink in ’09 (New York Times)
- World's biggest banks to meet in London (Reuters)
- Goldman Sachs CEO warns against nationalization (Welt)
and nothing to do with banking, but a fascinating story about the new Secretary of
State Hillary Clinton's tour of Europe. Upon meeting the Russian Foreign Minister Sergei Lavrov, Ms. Clinton gave him this present:
It's meant to be a red button that reset's the relationship between America and Russia. Unfortunately, Sergei pointed out that Peregruzka actually means 'overcharge', not 'reset' as Ms. Clinton's office had surmised.
Lucky it didn't mean 'launch' is all I can say!
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...