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 deal - The Independent

 

People

Model Miranda Kerr backs internet campaign to save Australian TV banker from sack - The Telegraph

Companies

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

Europe

Stock markets plunge over Europe debt fears - The Times
Iceland 'lied' over the state of its banks before collapse, says Dutch central bank - The Telegraph
Iceland warns EU on Icesave row - BBC

Bonuses

The market has failed over bankers’ pay - The Times

Markets

Banks shut low-use credit cards - Financial Times
Bankers without Borders to expand microfinance programme - Financial Times
Bank halts QE at £200bn despite 'sluggish' recovery - The 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 IPO - The 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.