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Banks Will Still Take A Beating

Former Deutsche Bank analyst Mike Mayo opened his account with new employer CLSA Monday, assigning an 'underweight' rating to a number of US banks, and predicting loan losses that will exceed the levels seen during the Great Depression.

Riches To Rags - $750,000-a-Year To $7.29 An Hour


ABC News has reported the sobering tale of 49-year-old Ken Karpman, a UCLA graduate who, until 2005, was earning $750,000-a-year as an institutional equity salesperson, and had enjoyed at least a six-figure income for most of his professional life.

Some News About Some 'Big' People

The Wall Street Journal reports that, according to US government disclosure material, White House economic adviser Larry Summers received $5.2m over the last 12 months for his new business and investment evaluation role over at hedge fund D.E Shaw.

Top Firms To Link Pay To Number Of Protesters

Angry Mob

After a couple of days break in London having a pop at the G20, bankers, capitalism and the like, the angry mob moves to New York Friday, demonstrating against the wars in Iraq and Afghanistan, and picking on Wall Street's finest.