[r] How can I label points in this scatterplot?

Your call to text() doesn't output anything because you inverted your x and your y:

plot(abs_losses, percent_losses, 
     main= "Absolute Losses vs. Relative Losses(in%)",
     xlab= "Losses (absolute, in miles of millions)",
     ylab= "Losses relative (in % of January´2007 value)",
     col= "blue", pch = 19, cex = 1, lty = "solid", lwd = 2)

text(abs_losses, percent_losses, labels=namebank, cex= 0.7)

Now if you want to move your labels down, left, up or right you can add argument pos= with values, respectively, 1, 2, 3 or 4. For instance, to place your labels up:

 text(abs_losses, percent_losses, labels=namebank, cex= 0.7, pos=3)

enter image description here

You can of course gives a vector of value to pos if you want some of the labels in other directions (for instance for Goldman_Sachs, UBS and Société_Generale since they are overlapping with other labels):

 pos_vector <- rep(3, length(namebank))
 pos_vector[namebank %in% c("Goldman_Sachs", "Societé_Generale", "UBS")] <- 4
 text(abs_losses, percent_losses, labels=namebank, cex= 0.7, pos=pos_vector)

enter image description here

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