The New York Post reports that JPMorgan is the latest firm said to be considering increasing base pay over at its investment banking unit. Insiders says that the jury remains out, however, as canny CEO Jamie Dimon is still trying to work out a way to keep costs in line, yet remain competitive so that his top staff don't simply up and off to rivals.
As $65bn fraudster Bernie Madoff gets used to the idea of 150 years in clink, here's what some of the smart (and not-so-smart) money has been saying about the old fellow.
'It's impossible for fraud to be committed in the current regulatory environment....... at least for any length of time'. Right there, Bernie.
Here's a copy of a submission said to have been made in 2005 to US market regulator the Securities and Exchange Commission by money manager and investment investigator Harry Markopolos.
Here's what $65bn fraudster Bernie Madoff told a US judge Thursday. Bernie will now remain in custody until he is sentenced on June 16th. He is expected to get 150 years!
Harry Markopolos, the man who fingered Bernie Madoff to US regulator The Securities and Exchange Commission (SEC) repeatedly beginning in 2000 (and was ignored), was testifying before the US House Financial Services subcommittee Wednesday.
As 71-year-old fraudster Bernie Madoff spends his time reading in his prison cell, waiting for a US Federal judge to sentence him to incarceration for the rest of his days, Fortune magazine has run an interesting article about the man who is believed to have fleeced investors to the tune of $65bn.
We like this.
The News of the World reports that 22-year-old 'serial gambler' Elliott Short, who was fired from his job in the City where he was training to be a trader, has won over $33m betting on horses over the last year.
The Daily Mail reports that the body of Huibert Boumeester, the missing multi-millionaire former ABN AMRO banker, has been discovered in woodland in Berkshire, England.
Royal Bank of Scotland was facing fresh management upheaval on Tuesday night when the bailed-out bank's newly-appointed finance director suddenly quit.
Ma Sin-chi, a former Deutsche Bank managing director in Hong Kong, was sentenced to seven years in jail for accepting $3.2m in bribes.
Former Goldman Sachs banker Elias Preko was sentenced to four-and-a-half years in prison by a London court on Monday for laundering $5m on behalf of James Ibori, the former governor of Nigeria's oil-producing state of Delta.