Things we're reading today include ...
UK:
Bank of England governor attacks Darling's borrowing policy (Guardian)
Bank governor Mervyn King says scale of UK deficit is 'truly extraordinary' (Telegraph)
King warns of the 'long hard slog' to clear Britain's debt (Independent)
City watchdog (FSA) pays £20m in bonuses (Guardian)
ECB lends record €442bn in first loan offer to boost credit flows (Telegraph)
Asia:
China has more millionaires than UK for the first time (Telegraph)
America:
Critics round on Citi pay rises (Financial Times)
Banks aid (Credit) card securitisation vehicles (Financial Times)
CIA turns to Wall St for new breed of experts (Telegraph)
Bernanke Tried to 'Cover Up' BofA Threats (ABC News)
Fed accused of 'cover-up' in BofA deal (Times)
Economies:
OECD: World economy will grow next year - but not Britain (Guardian)
Britain facing biggest deficit in Western world, warns OECD (Telegraph)
US Federal Reserve says recession is 'easing' (Telegraph)
Recovery delayed as banks fail to deal with toxic assets (Guardian)
General:
Plans to crack down on online criminals with 'cybercrime' units (Times)
Quote of the Day:
The Federal Reserve "engaged in a cover-up and deliberately hid
concerns and pertinent details about the merger from other federal
regulatory agencies."
Darrell Issa, Senior Republican, on the Bank of America / Merrill Lynch merger
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...
