Yesterday and today, the heads of British banking institutions face the music in Westminster before a live camera. Yesterday’s proceedings were fairly dramatic as I suggested in my post HBOS and RBS get a right bollocking. There has been a lot of god commentary about these events. As a result, I have a special section in today’s links reserved for the City of London.
The United States will see much of the same today as 8 CEOs head to Washington. I also have a brief section on real estate (not the crash, but lovely properties for sale from the NY Times) and a few links for pure voyeuristic titillation (it can’t all be doom and gloom).
Other news links are below or in the news feed.
The City of London
HBOS sacked and gagged bank risk whistleblower– Times Online
Top banker Sir James Crosby quits after whistleblower claims – Times Online
City bank ‘strip club’ culture excluded woman, tribunal told – Times Online (American tourists visit the Ten Bells as a pub where Jack the Ripper found his last victim. During the daytime, it has an altogether different persona right in line with this type of story. That is an integral part of the City of London culture.)
The psychologist’s view: Rich pickings – Guardian
I was sacked for exposing risks, says bank whistleblower – Guardian
A sorry excuse for an apology – Nils Pratley, Guardian
For some, financial risk-taking may be all in the genes – BBC News
UK Bank warns of ‘deep recession’ – BBC News
Dream properties from the NY Times
International Real Estate: For Sale in … Budapest (I love this property. But, the price is ridiculous. It is testament to the bubble that was in Budapest.
Property Values: What You Get for … $600,000
In the Czech Republic, a River House
Voyeuristic Titillation
Wife wants divorce after discovering husband’s gay dungeon sex on Second Life – The Next Web
British Teenagers Watch 87 Hours of Porn Per Year– The Next Web
Bloomberg.com: Eight Arrested Following Phelps’s Bong Photo, WIS-TV Reports (I see these arrests as completely spurious nonsense. But here you are. The real question is can Phelps take a good hit. Yes he can.)
Everything else
The Geithner plan — what the pundits say – FT Alphaville
Bad debts weigh on Credit Suisse – BBC News
Yen Shopping Spree Finally Here? – EconomPic Data
Don’t believe what they say – Bronte Capital (JPMorgan as lying bankers getting government to confiscate WaMu? So says John Hempton. I am skeptical.)
IMF may ‘deny’ Ukraine loan – BBC News
Nicolas Sarkozy’s bailout of carmakers sparks EU summit – Times Online
Economists warn on China deflation – FT Alphaville
China’s Exports Fall 17.5%, Most Since Asian Crisis – naked capitalism
Multipliers and the Role of Government – Economist’s View (this is an excellent analysis on stimulus by Mark Thoma)
The 180-degree reversal of Obama’s State Secrets position – Glenn Greenwald – Salon.com (Obama has already lost me on his economic plan. But, at a minimum you thought the man would uphold his promises for civil liberties. This is not change you can believe in.)