Lunchtime Links: This has been an especially bad week for anyone working at RBS or BarCap
Excepting the new round of redundancies coming to Bank of America, this has been a particularly bad week for anyone working at British banks who holds deferred stock bonuses.
As banking shares continue to fall today, British banks' stock has fared the worst since Monday. Lloyds is down nearly 20% and RBS and BarCap are down nearly 22%.
This is substantially more than major European banks. SocGen is down another 16% and Deutsche and BNP Paribas are down another 13%. It is also more than the most troublesome US banks - BAML is down 5% and Citi's down a 'mere' 8%.
No bank is up and bank stocks look likely to continue falling. It's bad news for anyone whose stock vests soon.
European banks can get through a stormy summer. But can they get through autumn? (
Shares in BarCap, Commerzbank, SocGen and Dexia fell more than 10% yesterday.
Andy Haldane thinks maybe banking regulators should consider temporarily lowering capital requirements in an effort to boost the feeble supply of credit to the economy. (Financial Times)
Before the stormy trading of August, many stock investors probably thought "death cross" was the name of some heavy metal band. (Reuters)
Bank of America vs. Citigroup - which is worst? (The Street)
"Bikram yoga gives me the physical and emotional gratification and trading gives me the intellectual gratification." (Bloomberg)
People at Canary Wharf will have to work from home during the Olympics, unless they're traders. (Evening Standard)
In the three months since Glencore floated, the value of Ivan Glasenberg's stake has fallen by almost 1.9bn. (The Times)
