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Top Firm Staff Braced For Bad Bonus News


CNBC has been reporting that Merrill Lynch staff are likely to feel a lot of bonus pain this year-end, as they come to terms with the effects of the huge write-downs their firm made in US subprime lending-related assets.

Top Firm's Risky Bet Wins Big Time

Jackpot Sign

The Wall Street Journal reports that Goldman Sach's bet earlier this year that US subprime was heading down the toilet has yielded what the newspaper describes as 'one of the largest windfalls the securities industry has seen in years' - a cool $4bn profit.

ABN AMRO, JPMorgan, Morgan Stanley, WestLB

Reuters reports that, according to Dutch newspaper Het Financieele Dagblad, The Dutch Central Bank tried to stop the takeover and break-up of ABN AMRO, but failed to get the political support to do so.

Top Firm Blames Woes On A Few Prop Traders

Kid Pointing

It looks like executives are playing the 'blame game' over at UBS. The $10bn of additional write-downs announced this week seem to have top bosses running for cover, hoping that they can avoid being fingered for the mess.