Barclays Boss Bob Diamond Says Banks Should Be Allowed to Fail
THE DAILY TELEGRAPH: Bob Diamond, Barclays' chief executive, has told a committeee of MPs that badly-run banks should not be bailed out by taxpayers.


"It is not acceptable for taxpayers to bail out banks," Mr Diamond said during questioning by the Treasury Select Committee. He added that "badly managed" banks should be allowed to fail. >>> Louise Armitstead, and Amy Wilson | Tuesday, January 11, 2011

Nuns Accuse Banks in $5m Lawsuit
THE TELEGRAPH: Germany's Deutsche Bank and US investment bank Morgan Stanley are facing a $5m lawsuit led by a group of Irish nuns.

No banker is likely to risk describing what they do as "God's work", but they might hope at least not to get on the wrong side of His earthly followers.

Unlucky then for Germany's Deutsche Bank and US investment bank Morgan Stanley, who are facing a $5m (£3.2m) lawsuit led by a group of Irish nuns.

The Sisters of Charity of Jesus and Mary, the Holy Faith Sisters and the Irish Veterinary Benevolent Fund are among a group of 88 Irish individuals suing the two banks.

The nuns allege the two banks profited at their expense by failing to redeem an investment linked to the debt of German financial group Dresdner Bank and in so doing cost them millions of pounds. >>> Harry Wilson, Financial Services Correspondent | Wednesday, August 11, 2010