eFinancialCareers

The remnants of ABN AMRO are starting to bear a startling resemblance to a poisoned chalice. After endeavouring to digest them, Fortis has had to be given the kiss of life by BNP Paribas and the Dutch government. Now it looks like RBS might be in line for the same treatment. This morning’s 30% drop in RBS’s share price was directly sparked by a BBC report that (together with Barclays and Lloyds) it’s asked Alastair Darling to give it around £15bn in new capital. But neither Barclays nor Lloyds have been as badly battered by this revelation as the Royal Bank, which – thanks to its joint £56bn purchase of ABN last year – still has a core tier-one capital ratio of less than 6%, despite a £12bn rights issue in July.

The Royal Bank run (FT Alphaville).

Government bailout = dilution = plummeting share price (Reuters).

RBS, Barclays, Lloyds TSB and the UK's three other biggest banks need to repay as much as £54bn of debt by the end of March 2009 (Bloomberg).

No one wants to be a banking NED [Why?] (The Times).

Lehman fixed income bankers to make millions unwinding trades (The Times).

Brevan Howard has been HIRING (Financial News).

“Dick Fuld is a PR disaster. At his testimony, he came across like the child catcher in Chitty Chitty Bang Bang.” (Fintag).

Fuld talks comp (YouTube).

Lehman wanted $20m to persuade three people to stay (Telegraph).

“Women in the room shout, “shame on you, shame on you!” but it’s not clear whether they’re talking to or about Fuld at all. Let this be a lesson to anyone considering becoming a CEO.” (Wall Street Journal).

Timeline for JPMorgan’s cash demands on Lehman (CNBC).

Analytiquication Sans L’Informatione: Iceland (Longorshortcapital).