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Don’t bank on the Government

Guardian - Of course! Why didn’t we think of that before? It’s the state which should be running banks, with civil servants on the boards instead of those bonus-fixated businessmen. While we’re about it, why stop at the banks? What about nationalising the supermarkets? How could we let people profit out of the public’s need to avoid hunger? Look at North Korea, last of the old Marxist regimes, where food is free and plentiful – well, at least for the Dear Leader.

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Don’t count on a new Bretton Woods

Independent - In a cascading world, institutions will have to adapt and expand their membership if they are to survive. But it won’t be in the form of a new Bretton Woods orchestrated by the old Anglo-American alliance. Those days are over.

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Time to face down the myth that banks always know best

Guardian - I asked two bankers involved in the negotiations if the government has demanded details of how they lend now compared with last year. No, they said, they haven’t had to provide those accounts. Labour needs to clear a quick path through this thicket to make sure the funds made available really [...]

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The World According to Josef Ackermann

Spiegel - The CEO of Deutsche Bank Josef Ackermann is justifiably proud of the fact that his bank has so far been able to weather the financial crisis better than many of its competitors. But he still hasn’t won any sympathy points. Perhaps his self-image is to blame.

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