Here's an interesting item that appeared last week on Jon Stewart's 'Daily Show'.
The following exchange took place on Craigslist - the investment banker's response is a classic!
Bloomberg reports that the smart money feels that the credit crunch is likely to result in further marriage / relationship break-ups, as money problems and difficult domestic arrangements just don't go. The news agency quotes Sandra Davis from Mishcon de Reya, who said: 'The credit crunch shows the more sinister side of human nature. When there are problems in a relationship, money papers over the cracks. But when the money is gone, the cracks are visible'.
CtW Investment Group have written to O. Temple Sloan, Bank of America's lead outside director, calling for the removal from office of firm CEO Ken Lewis.
The New York Times reports that Bank of America's risk team was forced to swing into action after irregularities were discovered in the trading account of a London-based currency trader.
Shares in Citi fell to 97 cents intra-day Thursday (before closing at $1.02). The stock has now fallen some 85% this year, and is currently trading at its lowest levels since Citicorp and Travelers came together to form Citigroup in 1997.
The Financial Times reports that Lehman's US liquidators have sent a letter to Barclays asking what happened to an estimated $3.3bn that was transferred to the UK bank when it acquired Lehman's North American operations in September last year.
The Wall Street Journal has identified some of the bankers who bagged the most in compensation over at Merrill Lynch last year. The figures are said to have been compiled from documents and interviews with unnamed 'people familiar with the situation'.
Reuters reports that UBS has again refused to provide most of the names of US clients sought by the US government in connection with a tax evasion probe.
'Here Is The City' expressed some scepticism about the legal claims currently under consideration by some bankers over at Dresdner Kleinwort in respect of the 'variable' element of their compensation (ie their bonuses), so you may be interested in the views of one who is involved.
Any fines by US authorities on Royal Bank of Scotland over the Libor scandal should be met by bankers not taxpayers, UK Chancellor George Osborne has insisted.
Barclays has form as a clever-clogs deal-doer. In the infamous Protium transaction in 2009 it cast off a $12.3bn collection of toxic assets to a Cayman Islands-registered fund, led by departing Barclays employees, which borrowed a cool $12.6bn from Barclays itself to do the deal.