The Wall Street Journal reports that the board at Citigroup is becoming dissatisfied with the performance of the company, and says that some directors are now lobbying for the replacement of Chairman Sir Win Bischoff.
'In my 15 years in investment banking, I was fortunate to meet a lot of smart people. I don't think I ever met a single 'genius' though'.
'Is it just me, or are you, too, getting sick of all this Wall Street v Main Street nonsense ? It's got so bad that, when anyone now asks me what I do for a living, I say I work for General Motors!
Bloomberg reports that Deutsche Bank has sued Lehman Brothers Holdings, seeking the return of some $72.5m which was transferred in error to a Lehman account at Bank of America on 26th September - 11 days after Lehman's bankruptcy filing!
The third-quarter was another tough one for many firms. Here's our usual note of who did what in the period.
Goldman shares hit a five-and-a-half year low Monday, after yet another analyst predicted that the firm is likely to post a fourth-quarter loss.
Bloomberg reports that BlackRock CEO Larry Fink told an audience at the Reuters Global Finance Summit in New York Tuesday that we may be approaching the end of the bear market.
Bloomberg reports that there's a big backlash on Main Street about the so-called Wall Street bailout. The news agency says that the majority of Americans feel that bankers should get NO bonuses at all this year.
My, how times change. This year the equity boys will be doing rather better on the bonus front. But here's what we were singing this time last year - to the tune of Band Aid's 'Do They Know It's Christmas'.
As rumours fly that JPMorgan and Morgan Stanley are likely to ask between 10 - 15% of wholesale banking staff to leave, Reuters reports that both Citi and Goldman Sachs were busy cutting heads last week.