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Merrill Staff Happy, Goldman Staff Said Not

The Wall Street Journal reports that all is now well in MerrillLynchland, after Bank of America back-tracked and permitted the firm's investment bankers to have the old bull logo back on their business cards.

On The Hire - You Can Always Count On Shell

So, with trading and the credit crunch well and truly in the mainstream news, everyone thinks that they know who the major players are. Goldman Sachs, JPMorgan, Barclays Capital are three firms which immediately come to mind. But you sometimes have to look at other well known companies from a different angle to realise that they, too, have pretty substantial trading operations.

Windfall Tax On Banks, Supertax For Bankers

Rumours abound that UK Chancellor Alistair Darling is preparing to levy a supertax on rich bankers to make his boss, Gordon Brown, feel better about screwing up the economy. A politically motivated move of this kind would also go down well with the masses, who doubtless will cry that greedy bankers have at last got their come-uppance.

Socially Useless ? What About Us ?

The Sunday Telegraph reports that ICAP CEO Michael Spencer made a speech last week in which he said that he was 'genuinely offended' by Financial Services Authority Chairman Lord Turner's description of bankers as 'socially useless'.

The Latest Other News In Brief

The Financial Times reports that Citi is to 'intensify its efforts to break free from the US government shackles', despite failing to convince the authorities that they are strong enough to stand alone without US government backing.

Trading Loss Grows, Junior Staffer Fingered

The cost of that Mizuho Securities trading blunder appears to have increased by some 50%. The botched share trade now looks likely to set the Japanese firm back around $335m, although the Tokyo Stock Exchange may well have to bear some of the pain, as a systems failure meant that Mizuho was unable to cancel out the trade when it first spotted the error.