Too drunk to work - that's apparently the consequence of 24 hour drinking in the City these days.
As another French rogue trader has been detained in connection with that big recent loss over at Caisse d'Epargne, we thought we'd re-run something first published after SocGen trader Jerome Kerviel became a household name in January.
Memo to all Executive Personnel
Lehman Brothers bankruptcy estate has filed a multi-billion dollar lawsuit against JPMorgan Chase, accusing its former rival of coercing Lehman to hand over an additional $8.5bn in collateral in the days leading up to its bankruptcy in September 2008, which triggered a liquidity squeeze that contributed to the failure of the firm.
'I'm confident you'll get you money, plus profit'.
CNBC reports that, according to its sources, 'a few top executives' at Bank of America are 'privately trashing' Sallie Krawcheck, who heads up the firm's wealth management arm, 'angling to oust her'.
SocGen's alleged $6bn rogue trade, Jerome Kerviel, appears to be looking forward to his day in court (his trial starts on 8th June).
Representative Barney Frank, the man tasked with leading the Congressional talks to merge the US House and Senate financial reform bills, has said that the provision in the Senate bill that requires commercial banks to spin off their derivative operations 'goes too far'.
John Heilemann has a really comprehensive piece in New York magazine which analyzes the relationship between the White House and Wall Street CEOs.
Hey, it seems it's not so bad being a banker these days. Almost 18 months after the anger and rhetoric over bonuses and the financial crisis hit the highs, bankers are apparently crawling out from under those rocks and are even confident enough to admit what they do for a living.