Lunchtime Links: Three cheers for bankers

23 September 2008

1 minute read

Lunchtime Links: Three cheers for bankers

If no one else has a great deal of sympathy for the banking community these days, London Mayor Boris Johnson can at least be relied on for some reassuring words. Johnson uses his column in today's Telegraph to extol the virtues of an industry which 'provided a roof over people's heads', contributed 9% to GDP and 'nourished everyone from lawyers to accountants, PR firms, architects, interior designers, builders, taxi drivers and just about everyone else'. Feel better already?

Nomura hiring at least 700 of Lehman's London investment bankers, plus support staff. BarCap trying to poach the best. (The Times)

Lehman's bankers might only get half their pensions. (The Times)

Hedge funds' legal challenge to 8bn transfer out of Lehman pre-sale to Barclays. (Financial News)

See ya, Sallie. (Bloomberg)

"If you get rid of the bonus, then there's basically no point." (New York Times)

Scary words are banned. (Clusterstock)

Chauvinists earn 4.7k a year more than modern men. (Independent)

Pawnbrokers having a ball. (Evening Standard)

AUTHOReFinancialCareers UK

Insider Comment

Be
Bernhard
24 September 2008
capitalist, may I remind you on the Code of Ethics and Standards of Professional Conduct issued by the CFA institue. everyone in the investment world is subject to their rules or should encourage their bosses to do so.
... put the client's interest before your own....
but why are we all learning that bs, right?!
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Th
The Capitalist
23 September 2008
Having watched that one sided Panorama programme on TV last night, I started to get annoyed.
In truth, the banks were just very efficient at creating cheap finance. The Consumers - and the Governments that encouraged them to 'spend, spend, spend' - are as much to blame.
While blaming the banks is politically expidient, in truth it is no better than fat people blaming McDonalds for being overweight - no one forced them to gourge on new cars/houses/consumer items.
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mi
mikey 2
23 September 2008
Since when was everything in the world right and fair...
Feel better....?
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mi
mikey
23 September 2008
It nothing to do with envy, its to do with what is right and fair for the work. This era is not the only era that has benefited the people Boris mentions but it is the only era in living memory of obscene bonuses,
These obscene bonuses have been paid irrespective of performance and have basically cocked up the world economy
Feel better...?
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ma
maria
23 September 2008
he's absolutely right Boris. The guys gloating over big bonuses disapearing dont have a clue that that will also mean their jobs in the end! envy is a sad thing
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