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Top Boss Forgoes His 2008 Bonus (Already)

The New York Times DealBook column reports that Lehman Brothers CEO Dick Fuld and firm President Bart McDade told Managing Directors earlier this month that they would forgo the payment of bonuses this year as their firm is in the doldrums.

Goldman Admits It Got It Wrong

Bloomberg reports that Goldman Sachs has reversed itself on an analyst call last month which recommended that investors move back into financial and consumer stocks.

Credit Suisse, Deutsche, Goldman & Citi Wield Job Axe

Credit Suisse is the latest firm to wield the job axe, confirming Friday that 75 London-based staff from the firm's investment banking division are to be cut. The New York Post also reports that the firm is expected to cut divisional staff in New York too.