Okay, here’s what they’ve got so far, tell us what you think.
The idea they’ve come up with is: you’re fired.
Bank of America is eliminating between 20 and 30 proprietary trading jobs to comply with Volcker rule limits on banks trading their own capital, according to a person briefed on the decision. The cuts, which represent fewer than one third of the bank’s proprietary trading jobs, follow a decision this week to stop trading some liquid instruments, said the person, who declined to be more specific…”We continue to explore the best possible ways to comply with the Volcker rule and this is one step in that direction,” said Jessica Oppenheim, a spokeswoman in New York for the Charlotte, North Carolina-based bank.
Bank of America Said To Cut More Than 20 Prop Trading Jobs [Bloomberg]
BofA had no bidness buying ML. What a mess.
To think about it, the marker is a better way to comply with the Volcker rule.
- P. Jiang
Guess we should have just let them be Bear2
Hey, anyone know the cutie doing the excavating in this video? It looks like normal trading room behavior to me.
http://news.yahoo.com/video/odd-15749658/oops-newscast-airs-picky-behavior-22178325
Bank of AmanBearPig.
-I’m super serial.
Do they get a skateboard as part of their severance?
Falcone needs to learn how to prop trade his wife
They’ve gotta make room for the new skate park somehow
kinda like the Yankees firing their bat boys though isn’t it?
Brilliant! you made a comment that could have gone in either story, this one or the previous one.
–guy who sees what you did here
Well that was some out of the box thinking.
More like the Mets firing theirs. The Yankees still need bat boys.
mmmmm. box.
-MW
In 20 years BOFA will be the biggest house on the street. You all know nothing!!!!-Jim Cramer
*proceeds to hit that booyah button that queues up that annoying sound clip*
…made out of cards
Brilliant, you interrupted your job hunt and mopping down your bedroom in momma’s basement.
I like how they cut the prop trading in liquid products. Who needs the liquid products when you can trade prop next to your customer flow desk in all the illiquid products, where they really make their edge.