Bank of America is said to be planning on canning half of its New York equity trading desk in the next 2-4 weeks.
Comments
Comments hidden for your protection. Show them anyway!More Favorite Reads
Sep 15, 2009, 2:22pm
Technical Difficulties Prevented Warren Buffett From Saving Lehman Brothers
I sense some judgment from the Bloomberg reporter here re:...
More »Sep 15, 2009, 2:00pm
People! THIS TYPE OF PERFORMANCE DOES NOT MAKE PTJ WANT TO RAIN BUCKETS O' CHICKEN ON YOUR ASSES!
Tudor BVI Global: August 2009: 0.5% YTD: 12.5% ...as for...
More »
Sep 09, 2009, 11:27am
Goldman Partner's Neighbors Scandalized By Shirt Optional Parties
Goldman Sachs partner managing director Richard Kimball Jr. apparently got...
More »Sep 09, 2009, 10:15am
Job Openings At AQR! (UPDATE)
Ladies, if you've been looking to work under one of...
More »
Posted by guest , Oct 27, 2008 12:25PM
boy you love the bad news bess. youre turning into the grim reaper.
Posted by guest , Oct 27, 2008 12:26PM
@1- you're a moron. wake up, dude.
Posted by guest , Oct 27, 2008 12:27PM
@1- why dont you share with us what the good news is db should be reporting?
Posted by guest , Oct 27, 2008 12:27PM
at 2 it's an opinion. go fuck yourself.
Posted by guest , Oct 27, 2008 12:28PM
The axe is falling today at UBS for the last of the 1900 layoffs you've reported previously.
Severance is three weeks for each year of service, minimum 26 weeks, max 52, with pro-rated bonuses about 25% of last year's.
Posted by guest , Oct 27, 2008 12:29PM
@4/1- still waiting on whatever good news you think is coming out that db is supposedly neglecting in favor of the bad.
Posted by guest , Oct 27, 2008 12:31PM
how about an article on some of the positives coming out of this debacle??Like the dismissing of overpaid ,under valuable, annoying cookie cutter, bad suit wearing kissing ass for a living lemming.
Posted by guest , Oct 27, 2008 12:34PM
well one good news item. There is justice. You smug,narcissists are finally having there day. FUCK you guys. You and your schemes, laid the groundwork for this whole bloody mess.
Posted by guest , Oct 27, 2008 12:35PM
Happy Holidays from BofA(ssrape)
Posted by guest , Oct 27, 2008 12:37PM
the good news is you're fired.
the bad news is you must buy my GS/MS puts back, today.
sorry.
-retail
Posted by guest , Oct 27, 2008 12:37PM
Happy Thanksgiving from Bank of Arse.
Posted by guest , Oct 27, 2008 12:39PM
8 is pissed because most severances are still worth more than 2 yrs of his hourly wages
Posted by guest , Oct 27, 2008 12:39PM
Bofa has a new york equities trading desk? Who knew?
Posted by guest , Oct 27, 2008 12:41PM
Will their ATMs still work?
Posted by guest , Oct 27, 2008 12:42PM
THEY TOOK OUR JOBS!
Posted by guest , Oct 27, 2008 12:42PM
8 - die hippy die
Posted by guest , Oct 27, 2008 12:42PM
#12
you are probably right as well as proved #8's point.
Posted by guest , Oct 27, 2008 12:43PM
# 12 I MAKE MY OWN HOURLY WAGES DICKBAG AND WOULD LOVE TO COMPARE W-2 FORMS WITH YOU
Posted by guest , Oct 27, 2008 12:45PM
I hope that 8 is an english teacher.
Posted by guest , Oct 27, 2008 12:46PM
bring it douche bag... post your PI on the net. fuck stick
Posted by guest , Oct 27, 2008 12:48PM
dickbag? is that an insult now? who knew? They must have that one in the same place they stored the location of the bofa equities trading desk.
Posted by guest , Oct 27, 2008 12:49PM
# 8 although a lil rough around the edges, he or she has a very valid point.Wall street if filled with overly enthusiastic, overly caffienated and just basically over evrything tools. Be honest with yourselves. You may very well be the lil scumbag that I'm writing about. SUPERSIZE that please.
Posted by guest , Oct 27, 2008 12:49PM
12 here, i'm not even in a bank i'm on the buy side
the point was that #8 is a hater and most likely a hater because he is simply jealous
Posted by guest , Oct 27, 2008 12:49PM
@19
no, 8 is an Obama's supporter
Posted by guest , Oct 27, 2008 12:51PM
#20 what does PI stand for ? penil insertion??
Posted by guest , Oct 27, 2008 12:53PM
25 it should be IP...
-not 20
Posted by guest , Oct 27, 2008 12:53PM
@5 - what groups?
Posted by guest , Oct 27, 2008 12:54PM
#8 here what does me supporting Obama have to do with anything??
Posted by guest , Oct 27, 2008 12:54PM
"bring it douche bag... post your PI on the net"
didn't LSO use that line in "Damn it feels good to be a banker"? ;)
Posted by prgy , Oct 27, 2008 12:56PM
@8 why such hostility? Do not be jealous of everyone else because they make more money than you. You should have applied yourself more in high school instead of goofing off and having to get your GED. If you are one of the many on the BOA janitorial staff then fear not, there are plenty of other buildings that need the men's room's cleaned.
Posted by guest , Oct 27, 2008 12:59PM
Tim Sykes is long McCain.
Posted by guest , Oct 27, 2008 1:03PM
# 30 feeding right into my theory of smug condescending cock-suckers. You have proven my poit ty dick-bag. And i checked that is an insult.
Posted by guest , Oct 27, 2008 1:03PM
# 30 feeding right into my theory of smug condescending cock-suckers. You have proven my poit ty dick-bag. And i checked that is an insult.
Posted by guest , Oct 27, 2008 1:03PM
#23 So how does that make you anymore useful to society? You're all a bunch of insecure, money-grubbing douches whose self-worth = money you make. Yeah, that makes me so "jealous" I want to choke myself.
not #8
Posted by guest , Oct 27, 2008 1:03PM
@18 Box 3 doesn't count
Posted by guest , Oct 27, 2008 1:04PM
Does anyone have any news about how things at JPM are? I'm a candidate for a job there...
Posted by guest , Oct 27, 2008 1:05PM
get used to being underemployed ... I have an MFA from Bard Colleege and I manage a Starbucks..
Posted by guest , Oct 27, 2008 1:06PM
Settle down ladies...
Posted by guest , Oct 27, 2008 1:07PM
@37 - Funniest thing I've read all day.
Posted by prgy , Oct 27, 2008 1:09PM
@ 32/33. This just proves my intellectual superiority. First of all it's point, not "poit", which is not even a word in the English language and posting twice is the sign of an insecure human.
Posted by guest , Oct 27, 2008 1:11PM
you are all losers..i was laid off at ML and was the best thing that happened to me. Life is simple.. earn money, save money, pay cash, and live below your means. I can go 3.5yrs without working and still not have to lower my standard of living ! In fact I just bought 2 new cars with cash
Posted by guest , Oct 27, 2008 1:11PM
# 34 YOU HIT IT ON THE HEAD.
Posted by guest , Oct 27, 2008 1:11PM
# 34 YOU HIT IT ON THE HEAD.
Posted by guest , Oct 27, 2008 1:12PM
It's a fricken bloodbath. We're all going to be selling pencils and apples.
http://www.ignites.com/articles/20081027/allianz_pimco_distribution_chief_resigns
http://www.ignites.com/people/feature/20081027/pink_slips_ready_fidelity_sources
Btw... Is this a site for grownups or Youtube? What's the collective age here 15?
Posted by guest , Oct 27, 2008 1:13PM
I am a hedge fund manager. What is "Bard College?"
Posted by guest , Oct 27, 2008 1:17PM
Isn't Bard a LA school for Shakespeare?
Posted by guest , Oct 27, 2008 1:21PM
at 41 stop lying. Why would you buy 2 cars with cash you're a fucking lying fool.
Posted by guest , Oct 27, 2008 1:22PM
@47/31
MFA= Master of Fine Arts, Bard College is in New York State
@31 that MFA is not doing you much good since you can't spell College right. I wouldn't coount on having that job at S-bucks much longer
Posted by guest , Oct 27, 2008 1:22PM
I'm a hedge fund manager... what's a carry trade?
Posted by guest , Oct 27, 2008 1:25PM
#37
Unbelievably you've managed to snatch the award for the biggest douche. I thought it was a done deal as well.
Posted by guest , Oct 27, 2008 1:27PM
@41, two new dinky toys, one of which ended up - oops- behind your contractor..
Posted by guest , Oct 27, 2008 1:27PM
Funny how everyone makes fun of BOFA, meanwhile BSC, LEH and MER are all gone. BOFA will absolutely own thse street, if you know anything about this business you will realize that. They have more cash at their fingertips than god.
Posted by guest , Oct 27, 2008 1:30PM
@52 - WHOOT!
Posted by guest , Oct 27, 2008 1:30PM
@52
Yea, but it's BOFA. You'll never bag a model telling them you work at BOFA.
Posted by guest , Oct 27, 2008 1:32PM
53 - whoot guy or whatever, you are so backoffice...
Posted by guest , Oct 27, 2008 1:35PM
@34
Did bankers taunt you and your friends on the customer service blog after you were outsourced to India?
I doubt it...
You wouldn't be commenting unless you had jealousy fueled resentment towards those who work in finance.
-23
Posted by guest , Oct 27, 2008 1:37PM
@18 is ALLCAPS from Wharton.
@54-funniest thing I've read all day. That poses the question: what do you tell models? You can't say you do investment banking. I mean, they're dumb, but not that dumb, right? Two, do you now say you work for BOFA or C, or any other commercial banks? Does that play now? Or do you just say, MER, BSC, LEH, (soon to be GS) and hope it flys?
Posted by guest , Oct 27, 2008 1:37PM
@13, Bear Stearns and Lehman collapsed? Who knew? Read the fucking news moron, BofA will soon own ML and will lay you off.
Posted by guest , Oct 27, 2008 1:38PM
@51, that makes no sense "oops behind your contractor" what the hell does that mean...
Posted by guest , Oct 27, 2008 1:42PM
@37
Heard 'bucks managers jobs were only going to tier 1 alumni - though good news for BARD, they do have openings for barristas.
Posted by guest , Oct 27, 2008 1:42PM
@57
I would tell them you work in import/export.
Tell them you can get them some really cheap Pashmina scarfs.
Posted by guest , Oct 27, 2008 1:43PM
@54 im sure you bag tons of medels, maybe in Bayonne after you are done doing your back office job. Back to work Tony....
Posted by Anal_yst , Oct 27, 2008 1:43PM
To the various d-bags who've somehow found their way over here from yahoo finance (etc):
Most people who work on wall street aren't the stereotypical asshat that LSO would have you believe.
Sorry to burst your bubble.
Posted by guest , Oct 27, 2008 1:44PM
@54 im sure you bag tons of medels, maybe in Bayonne after you are done doing your back office job. Back to work Tony....
Posted by guest , Oct 27, 2008 1:45PM
@37
Heard 'bucks managers jobs were only going to tier 1 alumni - though good news for BARD, they do have openings for barristas.
Posted by Tau , Oct 27, 2008 1:46PM
@52, 53:
My friend's retarded, in-bred half-cousin is looking to take-private a Sbarro in the Bronx. Care to underwrite?
Posted by guest , Oct 27, 2008 1:48PM
#59 in your ass, that means, out of reach...
Posted by guest , Oct 27, 2008 1:49PM
@62 & @64
When you tell folks you work at BOFA what do you think their next thought is?
A) Wow, this guy must be a player.
or
B) Oh I just got a pre-approved credit card offer from them that I threw in the trash.
Posted by Tau , Oct 27, 2008 1:50PM
@64:
What the fuck is Bayonne? How is it that a 'buyside' baller such as yourself even knows where the back office ghettos are?
Posted by guest , Oct 27, 2008 1:52PM
@68, or:
C) This guy works for one of the surviving banks, I better ask him to pass my resume
Posted by guest , Oct 27, 2008 1:53PM
@69, because these are the same tools that work or me. They are all from Staten Island or brooklyn and are guido-fabulous.
Posted by guest , Oct 27, 2008 1:54PM
Is Bank of CountryLynch/MerrillWide going to change their name to something more British and wealthy, old school, sounding? J.T. Marlin? Brooks Brothers & Brown? Baily, Brooks, and Bidle? The Old Mutual Skooner? What about CitiSachs? When they get together, is Citi a thing of the past?
Posted by guest , Oct 27, 2008 1:57PM
@71
You must be a fantastic manager if you call your staff tools.
Posted by guest , Oct 27, 2008 1:57PM
@ 57 you dick bag.
Posted by guest , Oct 27, 2008 1:57PM
@ 57 you dick bag.
Posted by guest , Oct 27, 2008 1:58PM
@ 57 you dick bag.
Posted by Tau , Oct 27, 2008 2:00PM
@71:
That's funny - our back office droids were told to avoid eye contact at all times and email only if a fire broke out in their cage
Btw, what the fuck is Staten Island or Brooklyn?
Posted by guest , Oct 27, 2008 2:00PM
@76...awww, did somebody lose on speculating in Florida or Las Vegas when the "pros" said it was a can't miss? Didn't factor all the variables in your can't miss financial model? Hahah-you're a moron.
Posted by guest , Oct 27, 2008 2:03PM
the same back office come backs. Nothing outstanding. And what is the caps wharton thing supposed to be?ty for explaining.
Posted by guest , Oct 27, 2008 2:03PM
shouldn't some of you "front-office-cats" or "rainmaker-minor-leaguers" be lunching with clients? something tells me everyone on the DB boards is a back-office Bayonnette.
-not in finance.
Posted by guest , Oct 27, 2008 2:10PM
@77
You're a programmer aren't you?
Posted by Tau , Oct 27, 2008 2:12PM
@80:
Apparently, since you're "not in finance", you don't understand how this works so let me clear it up for you. As private equity professionals, we Are the clients. Corporates, bankers, consultants (and further down the food chain, lawyers and accountants) work for Us. Sure we ultimately answer to our LPs, but we have an entire department dedicated to that purpose (aptly named, "Investor Relations"). We do enjoy being taken to Le Cirque or Michael's for a nice power lunch but, as I'm sure you've heard over NPR or read in the Washington Post or whatever it is those of you not in finance use for news, our advisor friends are feeling the pinch. So we order sushi.
Better?
Posted by Tau , Oct 27, 2008 2:14PM
@81:
Nope :-)
Posted by guest , Oct 27, 2008 2:16PM
Im a fantastic manager @73 you know why??
CAUSE I DONT MAKE MONEY, I PRINT IT.
They know to stay out of my way during trading hours. They also know they are tools who all graduated from Canarsie High. We all have our lot in life. Yours apparently is to be a knob.
Posted by guest , Oct 27, 2008 2:25PM
#83 A smiley? Really?
Stay the fuck from from DB...you are ruining the fucking ambience.
Posted by guest , Oct 27, 2008 2:26PM
@82...didn't realize that everyone on these boards is a Private Equity professional. I'm thinking yours was a bad answer to a rather simple question.
Le Cirque and Michael's....oh, you must have recently received your Zagat's for 2009, way to restaurant name-drop...
Posted by guest , Oct 27, 2008 2:27PM
@84
Yup. You must raking it in while you piss away the day reading DB. I believe you.
Posted by guest , Oct 27, 2008 2:31PM
84 riiiight
Posted by trojan , Oct 27, 2008 2:31PM
these comments are yet another indicator of how DB gets gayer every day
Posted by Tau , Oct 27, 2008 2:37PM
@85:
I believe my presence (and that of my smiley) is serving to improve the ambience, unless you enjoy wallowing in self-pity and remorse? Try not to get any of your failure on those of us who are doing well.
@86:
Now you know. And I will thank you kindly to leave the thinking to the professionals.
Posted by guest , Oct 27, 2008 2:39PM
BofA already owns Wall Street and will run it for the foreseeable future. Get used to it.
Posted by guest , Oct 27, 2008 2:47PM
Hello, I am a private equity MD/partner. What is this Bee of A that you speak of?
Posted by guest , Oct 27, 2008 2:49PM
@90/Tau...I think even the actual PE and other Finance Professionals will agree that you are a douche. I'm sure you're an intelligent, well-educated young man, but your overall demeanor leaves much to be desired. Think about that, professional emoticoner.
Posted by Tau , Oct 27, 2008 2:54PM
@93:
I appreciate the compliments, but it would appear the satire has been lost on you.
*shrug*
Sorry you're a tad slow on the uptake.
Posted by guest , Oct 27, 2008 2:55PM
@all
can you all stfu with these inane comments and get back to carney-era comments? fuck i miss mr mayo and shamwow
Posted by guest , Oct 27, 2008 2:58PM
Speaking of Carney, doesn't he kick for the NY Football Giants?
Posted by guest , Oct 27, 2008 2:59PM
@91--thats the funniest thing I heard in weeks.
Posted by guest , Oct 27, 2008 3:06PM
@95
Seriously. There wasn't even a "too long, didn't read".
Where did all these commenters come from? There are more spelling mistakes and gramatical errors here than in one of Carney's stories.
Posted by prgy , Oct 27, 2008 3:09PM
@ 82 Tau, as usual you have it wrong. What is this "we" stuff. Do not include me in your gang of moronic, know nothing, psuedo-intellectual investment bankers who couldn't even balance a check book, more or less a corporate balance sheet.
Posted by guest , Oct 27, 2008 3:13PM
Thank you @99. As I expected and stated in post 93, most actual professionals would find this guy to be a d-bag.
Posted by guest , Oct 27, 2008 3:14PM
@92, this is the same Bee of A that refused to extend your portfolio company re-financing, thus resulting in your fund's poor performance since your company then had to default like a NINJA mortgage borrower.
EPIC FAIL!
Posted by guest , Oct 27, 2008 3:16PM
whatever happened to the good insults like bag of smashed assholes or meet my midget?
Posted by Tau , Oct 27, 2008 3:17PM
@99:
By no means do I purport to include You in any reference I make to "we".
"We" do not mingle with the help.
And what do you mean by "more or less a corporate balance sheet"? Perhaps you would like to revisit your insult. Alternatively, I would be happy to provide you with a markup.
Thx
Posted by prgy , Oct 27, 2008 3:26PM
@ 103 what I am saying is that I think you would enjoy spending time Mr. Clay Aiken.
Posted by Tau , Oct 27, 2008 3:35PM
@104:
I doubt it. I hear he is talented but I was never a big fan of adult contemporary. Interesting choice though, did you come across him recently at a prgy?
Posted by guest , Oct 27, 2008 3:45PM
Any more information on the BofA layoffs? Is trading expected to be hit the worst, or should we expect even worse for bankers and research analysts?
Posted by guest , Oct 27, 2008 3:51PM
PRGY - Still not a single comment that adds to the discourse. Please go back to the AOL boards.
POST ONE COMMENT THAT ADDS VALUE AND I WON'T CALL YOU OUT FOR SUCKING UNTIL NEXT MONDAY.
Posted by prgy , Oct 27, 2008 4:10PM
@ 107, contrary to what you say or might think, my comments are what makes Deal Breaker special. Please don't hate me because I am your intellectual superior.
Posted by guest , Oct 27, 2008 4:13PM
@tau
"did you come across him recently at a prgy?"
WIN!
Posted by guest , Oct 27, 2008 4:19PM
Hey bois...want to partay
Posted by guest , Oct 27, 2008 4:20PM
Hey bois...want to partay
Posted by guest , Oct 28, 2008 1:20AM
What equity trading desk?? I hope you Ivy League fukers get all fired. You guys thought you were the Masters of the Universe...but now you realize your true self, Masters of Cockroaches. Have a nice life looking for a job that doesn't exist. Too bad you have zero skills in the real world to get a real job. Better tell your wife to sell her Channel bag...and take your kids out of private school and back to public. Hahaha..I love it!!!! Payback is a bitch!
Posted by Phobos , Oct 28, 2008 1:41AM
@112
I hope you get raped by a Polar Bear.
SHAMWOW!
Posted by guest , Oct 28, 2008 1:42AM
I'm still trying to figure out how any person who works on wall street could support Obama??
I mean you people understand the basic concept that stocks predict 6 to 12 months out, right? The only unbreakable rule.
Soros cleaned up on you retards.
Posted by StupidEquityGuy , Oct 28, 2008 2:06AM
Guys, I will take the over under that Tau is a Douche, no doubt about it, but not in the way you think...
I am reminded of the scene
Vizzini: HE DIDN'T FALL? INCONCEIVABLE.
Inigo Montoya: You keep using that word. I do not think it means what you think it means.
~SEG
The amused...
Posted by Tau , Oct 28, 2008 9:54AM
@115:
I just googled "Inigo Montoya" and it would appear that your quote originates from something called "The Princess Bride".
You, my fairy friend, give equity guys a bad name.
And what is a trader doing up at 2AM? Unless you're a regional...
ugh
Posted by guest , Oct 28, 2008 9:59PM
@113 Phobos - I just spit coffee on my screen. Funny shite! SHAMWOW!
Posted by StupidEquityGuy , Oct 28, 2008 10:56PM
Tau, you brutish Quant, have nailed my existence. I am in fact on the wrong coast...
Worse, I am a stupid equity piker... and then to drive the stake into my chances in life, I am not even connected...
I am sure that if you saw me in person you would be thinking that I should be polishing your chrome...
I am in fact one of those damned American mavericks... I am the proverbial mustang horse at an Arabian distance race...
~SEG
Posted by guest , Oct 29, 2008 2:07PM
Also hearing that more than half of equity research analysts will be laid off over next 2-4 weeks as well.
Posted by Tau , Oct 29, 2008 2:12PM
@118:
Natch
Posted by guest , Oct 29, 2008 2:25PM
@118--calm down , you sound like a homosexual looking for a backroom handjob. Oh wait, you probably do that yourself and figure you saved the cost of 2 beers and a token from your fellow fags.
Posted by guest , Oct 29, 2008 4:03PM
@119
Any chance you'd care to elaborate? My source gave me a number much smaller than "more than half" for research.