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Bankers Are Like A Dog That 'Keeps Wetting Your Carpet'

Reuters reports that the Obama administration looks like having to back down on plans to ban licensed deposit-taking banks from engaging in prop trading, as it hasn't got the votes to push the proposal (the so-called Volker rule) through Congress, and Treasury Department officials are also thought to be against it in its present form.

There's Only One Firm Really Delivering On Bonuses

Credit Suisse Gold

Forget all the stuff about the likes of Barclays Capital and Goldman Sachs paying huge bonuses to senior staff this year. Yes, many revenue earners have done well, but both firms have been constrained politically from pushing the big bonus boat out.

Former Merrill Man Seeks $20m

Fox Business News reports that former Merrill Lynch President Greg Fleming is after some $20m from Bank of America, which he apparently claims is his due owing to a change-of-ownership clause in his employment contract, which was triggered when BofA acquired Merrill.

The Vic Daniels Column - Tax, Tax, Tax

Have you noticed how the UK tax man is now fighting on every front to ensure that as much tax as possible is collected from the 'rich' ? 'And about time too', I hear you say. But this is really bad news.

'Who Pays Wins'

Bloomberg reports that the likes of Bank of America Merrill Lynch and UBS are bringing in talent in London from rivals by sometimes doubling their base salaries.