Congrats to all those who made it through yesterday employment intact. Having said that… Read more »
The previously rumored layoffs at BarCap, expected to affect 7% of the global staff, are apparently going down circa now in New York. That’s all the info we have right at the moment.
Think of Dick Fuld, and realize it could be worse. Read more »
So Jamie Dimon and Lloyd Blankfein, the former of whom was once one of Obama’s boys, the latter of whom the President just thought was a cute li’l fella especially when his face gets all scrunched up, were very publicly not invited to yesterday’s signing of the financial reform bill. The White House asked every other Wall Street CEO to attend and probably would’ve even let Ken Lewis in if for some reason he’d showed up. And while they’re perhaps hurt, while they definitely got together last night to hold a “fuck that guy” party of two, what Lloyd and Jamie are not going to do is act out and embarrass themselves. You’d like that to happen, I’m sure but somewhere between the 8th and 9th round they decided a couple of things. 1) That waitress was totallyyyy throwing LB the vibes and 2) That living well is the best revenge. Obama’s gonna see them in the press, doing all kinds of awesome shit, doing even better than when they were together and he’s gonna think “Man, I blew it.” (It’ll hurt even worse when he realizes the only person he has to console him are Vikram and the guy who replaced John Mack). First step in Operation You Made The Biggest Mistake Of Your Life Baby? The suggestion of an overseas affair. Read more »
Gordon Dickson was once Bank of Scotland’s risk officer. His career spanned several decades and made him a nice chunk of money. Then the crisis happened, the shares he’d bought over thirty years collapsed, he fell into a depression and declared he wanted nothing to do with this godforsaken industry. But he needed to find meaning in something and he needed a source of income (having previously relied on dividend payments that were no longer). And that’s when he turned to pirates. Read more »
“The Chief Executive Of The British Bankers Association joins us on the line, Angela Knight. You’ve said that bankers are treated like lepers and carriers of bird flu. Do you not think that is no doubt because your members took huge sums of taxpayer money, caused a collapse of the economy, which is leading so some of the biggest cuts in public spending that we can ever remember and while the country suffers, your members take bonuses like nothing has happened? Is not then understandable that bankers are treated in that way?” [BBC]