What a dilemma. Root for the French, or root for European bank meltdowns. Decisions, decisions. BNP Paribas SA, France's biggest bank, will take control of Fortis's units in Belgium after a government rescue of the Brussels and Amsterdam-based company failed....

Here’s some news sure to please the xenophobes who populate this site—BNP Paribas has been making cuts in leveraged finance, high yield, and fixed income all week. Severance for junior staff is apparently 2 months salary, and analysts are receiving...