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The Latest On Bank Pay & Bonuses

US President Barack Obama has, as expected, started to tone down his anti-Wall Street rhetoric. Speaking in a prime-time press conference Tuesday, Obama said that although the American people are understandably angry that taxpayers dollars may have been used to pay Wall Street bonuses, the country 'can't afford to demonize every investor or entrepreneur who seeks to make a profit'.

Senior Staff Give Up Their Bonuses

The Wall Street Journal reports that New York State Attorney General Andrew Cuomo said Monday that 15 of the largest 20 AIG Financial Products group retention bonus recipients have agreed to give back their $50m payouts in the wake of the public outrage over the payments, which total some $165m.

'Soviet' Anthem Said Heard On Goldman Trading Floor

Soviet Flag

The Wall Street Journal's 'Heard on the Street' column reports 'gallows humour' over at the Goldman Sachs trading floor on the 29th floor at 85 Broad St - the sound of the Soviet anthem was apparently heard across the floor last week, after traders heard that that 90% punitive bonus legislation had successfully passed through the House of Representatives.

Barclays Gives Back Lehman Knickknacks Taken By Mistake

Lehman's creditors will no doubt be overjoyed to learn that the firm has now managed to recover thousands of so-called 'memorabilia' items which it seems where mistakenly transferred to Barclays, when the UK bank acquired Lehman's US businesses last September.

Curbing Bonuses - What The Smart Money Says

'The work we have all done to try to stabilize the financial system and to get this economy moving again would be significantly set back if we lose our talented people because Congress imposes a special tax on financial services employees'.