$$$ Fed Is 'Playing a Game With Us:' Pimco's Gross [CNBC] $$$ Bundesbank steps up pressure on Draghi [FT] $$$ Broker departures accelerate at Merrill Lynch [Reuters] $$$ The head of credit trading at Credit Suisse has been fined £210,000 for disclosing confidential information about a forthcoming €2.5bn bond issue after inviting a UK fund manager to “play charades” and guess the identity of the issuer. Nicholas Kyprios encouraged a fund manager who had been invited by Credit Suisse to a roadshow in November 2009 for an unnamed company to guess the issuer, using phrases like “you’re getting warmer”, the Financial Services Authority said. [FT] $$$ How would you like to be a Fixed Income Business Management Analyst for BlackRock in New York? [DBCC] $$$ Goldman Hires a New P.R. Chief $$$ Euro Zone Split over Financial Transaction Tax [Der Spiegel] $$$ Fred Wilpon's lawyers have planned a whole range of distractions for their Madoff trial [WSJ, related] $$$ Robert Lacoursiere, the Paulson & Co. partner who oversaw the $23 billion hedge fund’s team of banking analysts, quit last week after four years to start his own fund, according to a person with knowledge of the matter. [Bloomberg] $$$ Manhattan madam's 'sidekick' turns herself in, released on $100K bail [NYP]

$$$ RBS speeds up investment arm split [Telegraph] $$$ How much value does the finance industry create? [Noahpinion] $$$ Leverage can increase volatility and diversification can reduce risk [WSJ] $$$ Why London hedge fund wives don’t do Switzerland [EFC] $$$ Cheese fire causes traffic meltdown in Norway tunnel [Reuters] $$$ Registration for the 5th annual Decathlon starts today! This year’s competition takes place on July 28th, and also includes monthly “Throw Downs” where all registered Decathletes compete in 1-2 Decathlon events and collect charity bets on head-to-head match-ups (40 yard dash! Pull-ups! Bench press!). All proceeds benefit the Memorial Sloan-Kettering Cancer Center. $$$ A hedge fund in New York is looking for a quantitative macro strategist/economist [DBCC] $$$ Wells Fargo Lifts Quarterly Dividend 14% [FBN] $$$ Deutsche Bank Said to Be Asked by Bafin to Simulate Split [Bloomberg] $$$ Schroders Worker Among FSA Insider-Trading Probe Arrests [Bloomberg] $$$ Is seducing executives in order to get and trade on inside information illegal? [NetNet / John Carney] $$$ ‘Your Cat Is Not Innocent’: New Zealand Man Launches Campaign to Rid Country of Cats [Gawker]