Mervyn’s finally accepting AAA-rated MBS as collateral in repo operations and pumping cash into the system as fast as he humanly can, but he remains charged with being both unpopular and inept. The Telegraph today asks if King can survive. While some readers advocate kicking him, most appear to think King has done well. His refusal of a pay rise has been particularly endearing.

Citi picks up seven interest rate sales people from Lehman. (Financial News)

The maxim that hedge funds do well in times of volatility is dead. (Financial News)

But Paulson makes 19% returns. (Financial News)

How the US saved the European banking system. (Infectious Greed)

Despite the short selling ban, the collapse of banks has escalated. Noticed that?
(Fintag)

Citchovia: the all new investment bank. (Clusterstock)

Punish bankers is not a rescue plan. (The Times)

It’s Okay To Lie About The Value Of Your Assets If They Don’t Trade Much. (Clusterstock)

Bailout plan the same as the old one. (Clusterstock)

“If anybody does not believe that banking is the artery to the infrastructure and fabric of life, then they are living on the planet Zog.” (The Times)

Ireland’s guarantee costs €92k for every man, woman and child. (FT Alphaville)

“Even with the outcry over bonuses, the British financial scene remains devoid of a human symbol to define the public distaste.”
(DealBook)

High-heel injuries cost 29m a year. (Independent)