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Lawmakers Pass 'Bonus Ban' Bill

Bloomberg reports that the US House of Representatives Friday passed legislation that would give regulators the power to effectively ban Wall Street bonuses which are deemed to encourage excessive risk taking.

The So-Called 'Greedy' Lehman Bonus E-Mail

Here's an interesting Lehman e-mail exchange that has been unearthed by the media from the material submitted to Congress for the House Commitee on Oversight and Government Reform hearings on the financial crisis (the names of some of those involved in the exchange have been xxx'd out for privacy reasons).

The Fall Of Lehman - 'One Of The Worst Decisions The Fed Ever Made'

Bloomberg is quoting Ellen Zentner, a senior economist at Bank of Tokyo-Mitsubishi UFJ in New York, who blames current market chaos, in part, on the fall of Lehman Brothers: 'It's a collapse heard around the world. It's probably one of the worst decisions the Fed ever made - to save everybody else but Lehman'.

Citi Remains In The Line Of Fire

Although CLSA bank analyst Michael Mayo has at last secured a meeting with Citi executives (after apparently waiting almost two years for the call), he's showing no let-up in his criticism of the firm.