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Open Letter From A JPMorgan Employee

'I was glad to see that Here Is The City at last came out and recognised the difficult task JPMorgan Chase CEO Jamie Dimon and his management team have had in dealing with the rescue / integration of Bear Stearns.

Goldman Said Trying To Hush-Up Further Layoffs

We've had unconfirmed reports that Goldman Sachs has been busy laying off more support staff in Jersey City, New Jersey. The staff are said to be leaving at the end of the month, and Goldman is thought to have instructed employess to keep mum on the subject.

Citi To Merge

Citi executives, led by CEO Vikram Pandit, gave analysts and investors a four-hour presentation Friday on the 'state of the nation'.

40,000 Job Losses At Merrill Lynch - Not!

The bold writing under a profile of Merrill Lynch President Greg Fleming in Monday's Times declares that the executive 'is touring the world rallying his troops, demoralised by losses of $19bn and 40,000 job cuts'.

Latest Other News In Brief

Bloomberg reports that income from AIG's alternative investments group (basically its private equity and hedge fund business) fell 84% from $1.22bn a year ago to just $197m in the first quarter. AIG posted a $7.81bn first-quarter loss last week.