• News

    Down-Under Sheep Fanciers Oppressed By Skinflint Bankers

    All eyes are on the bonus checks going out to the financier set: those of Wall Street, those of the City, those of rural Australia.

    / Jan 2, 2013 at 2:33 PM
  • The internet tells me this is some sort of Australian cow. Err, bull.

    News, Rating Agencies

    S&P Gets In Trouble For Giving AAA Rating To Obviously Terrible Thing

    Oh man, CPDOs. CPDOs! Why was I not aware? This Australian court decision is like 3,000 pages long but it is riveting; if you built a CPDO, email me, I will buy you a drink and you can tell me all about it. My God it’s so beautiful. The story is that ABN Amro invented […]

    / Nov 5, 2012 at 6:11 PM
  • News

    Layoffs Watch ’12: Bank Of America Australia

    The House of Moynihan has said goodbye to a bunch of employees down under.

    Bank of America Merrill Lynch has begun a new round of job cuts in Australia, a person familiar with the matter told Deal Journal Australia, becoming the latest investment bank to cut costs amid light deal flow and sluggish equity markets due to the stuttering global economic recovery. Fewer than 10 staff from the bank’s equities sales and trading division have been let go, the person said, without elaborating further.

    Bank of America Merrill Lynch Cuts Staff in Australia [Deal Journal]

    / Sep 27, 2012 at 5:24 PM
  • News

    What Do Australian Miners And CDO Portfolio Managers Circa 2005 Have In Common?

    A shared love of chihuahuas, yes, though that’s not the answer we were looking for.

    / Nov 16, 2011 at 4:05 PM
  • News

    Mandy Drury Is Not Afraid Of Snakes

    Earlier this week, a cobra escaped from the Bronx Zoo. With a snake on the loose in NYC, was CNBC anchor Mandy Drury ever “afraid it would make its way” to her apartment? Not in the least, she told a co-worker, who interviewed her at her desk about the situation earlier today.

    / Mar 31, 2011 at 4:43 PM
  • News

    UBS Traders Suspended, May Be Fired After “Physical Fight” On The Floor

    Earlier this week in Sydney, the head of UBS’s institutional sales desk, George Kanaan, and executive director Mark Fitzgerald were “sent home” after a gentle shove by Kanaan in Fitzgerald’s direction “quickly escalated,” with the two being separated by colleagues. They were told to leave the building immediately and have not been allowed back since […]

    / Feb 24, 2011 at 9:22 AM
  • News

    Attention Macquarie Employees: Get Your Tit Fix Here

    Back in February, Macquarie employee David Kiely got in a little hot water with his employer for looking at some topless shots of Miranda Kerr on his computer. It should’ve been no big deal but unfortunately his floor was being filmed on live TV at the time and as the Aussies couldn’t be perceived as […]

    / Aug 19, 2010 at 3:45 PM
  • News

    Ill Omens From Aussie Bank Write-Downs

    Can we talk about Australian banks for a moment? Earlier this week, ANZ Bank of Australia warned that its profits could fall by 25% and said it was writing down $1.2 billion (Aussie money) of bad loans. This contributed to a massive sell-off in Australian financial stocks, which were already hurting from last week’s news […]

    / Jul 30, 2008 at 4:30 PM

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