Michael Lewis, the author of 'Liar's Poker' told how, when the Chernobyl reactor exploded in 1986, he was called by a smart trader called 'Alexander', who urged him to buy Idaho potatoes - the trader had quickly realised that the disaster at Chernobyl would contaminate North European food supplies, and that US spuds would soon be priced at a good premier.
We've been following this story on dealbreaker.com and wallstreetfolly.com for the last few days, wondering whether it really had legs. Several Wall Street blogs were describing the item as a US 'Lucy Gao' (The Citigroup intern who hits the headlines in August because of that e-mail about her birthday party at the Ritz). We were initially a little dubious, but now we're convinced. What you are going to read about is probably the most incredible investment banking job application - ever.
Many, of course, already regard Goldman Sachs as the world's biggest hedge fund. Well the Wall Street firm certainly will be if the latest takeover rumours prove to be true.
Commerzbank and former star trader James Keen faced each other in an UK Appeal Court yesterday, in a case which could affect the way bonus payments are allocated in future if staff are made redundant mid-year.
Bloomberg's Justin Baer has an interesting article on Citigroup founder Sandy Weill. Here's a few snippets:
US casino king Steve Wynn is said to have given new meaning to the term being 'given the elbow'.
Reuters reports that Joe Stevens, who headed up Goldman's securities joint venture in China, has left the firm. He is said to be taking up a role in private equity over at Standard Chartered.
Here Is The City is now around four and a half years old, and our news e-mail alerts now go out to over 30,000 registered users around the globe. Our careers site continues to grow, and currently features over 2,700 job opportunities.
That man John Mack, the CEO over at Morgan Stanley, goes up in our estimation all the time. Not only is he delivering on his promise to return his firm to former glories, but he is giving his staff the opportunity to chuck things at him, and dunk him in a tub full of water. And it's all for charity.
The Chicago Sun Times reports that Scott George, 52, had a good career in investment banking in Chicago. He'd worked for Bankers Trust, Morgan Stanley and Salomon Brothers and, by 2002, was pulling in around $1.5m a year. Then things changed.