Banks Gear Up For A Battle (WSJ)
Some analysts think banks are overreacting to Mr. Obama’s tough talk. “It doesn’t appear the proposal is designed to kill the capital markets,” said Brad Hintz, the senior analyst covering banks for Sanford C. Bernstein & Co. “It appears that what the proposal is designed to do is to reduce the risk-taking.”
Royal Bank of Scotland to pay top talent ‘cash bonuses’ (Telegraph)
RBS wrote to investors yesterday detailing the bank’s complicated pay deal under which bankers will receive their bonuses entirely in shares – but are able to convert a large portion into cash within just 12 weeks. In the letter RBS admits that the pay deal is “unlikely to please everyone” but pleads for understanding from shareholders that it is a “well-intentioned attempt to reach an acceptable position for most parties”.
Swiss Banks Find Achilles Heel of Secrecy Is Workers Selling Stolen Data (Bloomberg)
The call is coming from inside the house!
Volcker: Big banks’ risky trading should be curbed (Reuters)
“I am not so naive as to think that all potential conflicts can or should be expunged from banking or other businesses,” Volcker said in prepared remarks. “But neither am I so naive as to think that, even with the best efforts of boards and management, so-called Chinese walls can remain impermeable against the pressures to seek maximum profit and personal remuneration,” he said.
Madoff Ex-Right-Hand Man Forced to Forfeit House (CNBC)
Who wants a Bridgewater, New Jersey house filled with Ponzemories?
Obama Seeks 12 Percent Budget Increase for SEC (AP)
The request to Congress for nearly $1.3 billion for the SEC in the budget year starting Oct. 1 would boost total staff to 4,190 from the current 3,800 and would help them maybe catch some people like you know who.
AQR deal to bring big new trading firm to downtown Greenwich (GT)
AQR is in the process of signing a sublease to off-load an expensive piece of downtown Greenwich office space that they’ve been weighed down with for over a year.
Macquarie Bank adviser caught assessing Kerr’s assets [TA via BI]
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was that wrong? should I not have done that?
guys at DE shaw get caught looking at nudes during work all the time. not that big a deal.
It was from a customer. He said it was a bid list!
He’s toast. Trip to HR time …
He’s toast. Trip to HR time …
@4/5 do you think he’s toast?
@bess Since we’re currently in the news: I want to wrap my powerful squid like arm (singular) around your torso and drag you down to my lair in Davy Jones locker where I will do unspeakable things to you.
Can we get a post on Obama taxing the rich? Thanks,
Loyal DB reader
@8 ooh, maybe a picture of BHO taxing the rich. Topless, maybe. That could be my new screen saver.
RBS Sucks
that guy is definitely toast. in this market forget about it. his only saving grace is that the place is run by aussie’s – they may have a more benevolent soul…what an a$$hat!
I’m shocked that there is no mention of Sig Hansen, Captain of the Cornelia Marie, suffering a stroke.
It’s been a while since an installment of the “Deadliest MBAs” – hopefully we can get one today in tribute to Sig.
Could we call the increase at SEC a “Stimulus” for on-line porn? Just askin…
I only look at Bess’s topless photo galleries with the door shut during lunch.
@7 sounds kinky. I like it.
-Bess
fwiw that is not random internet browsing… those are local photos, either on a CD or his hard drive.
in other words, he’s fapped to those pictures before because they’re his *favorites*
It was Cap’n Phil Harris who had the stroke.
How do you manage big risk if you can’t manage the small risk of a nude image showing up on TV during a live broadcast??
Dumbass employee and bosses.
Miranda Kerr is worth it.
Ah, now I get it. You trade an index or a bond and you are now considered a banker. That explains why everyone hates bankers right now. Bunch of wankers getting busted watching soft porn and then being clueless enough to turn around to face a camera.
Get out of here, the lot of you. You are not worthy to be considered a banker.
As someone pointed out on the BI, its a photo shoot from GQ (which I saw the other day), its not that bad (however yes, incredibly retarded to NOT look like you’re doing when there’s a camera on the floor).
Thats a fixed camera they have there. You never know when someone is watching