Lunchtime Links: More horrible job decimation at hedge funds
Hedge funds may be back in the black after shorting financials, but this isn't impeding the flow of Armageddon-style predictions for jobs in the sector. According to the latest, on Bloomberg today, existing hedge fund job losses are a mere Chihuahua to the hairy thing that's coming. Quoting figures from search firm Options Group, it says 10,000 hedge fund jobs have gone so far and 20,000 will go in the near future. The cause? Falling assets under management and closing funds. Marketers, distressed debt managers, risk specialists and high frequency traders are apparently still being hired, but only after 30 interviews.
You could be a teacher in just six months. (The Times)
Citigroup is doing really well and imposing its own more stressful stress test. (Financial Times)
Record CDS spreads for BofA and Citigroup. (TheDeal)
US regulators making provisions for a fourth bailout of Citigroup. (Wall Street Journal)
Default risk, bank by bank. (Seeking Alpha)
BofA's mantra: We're not Citigroup. (Wall Street Journal)
$7m in guaranteed bonuses for Merrill banker in Brazil. (Wall Street Journal)
Ken Lewis defends pay and jet. (Guardian)
Forensic probe coming to Barclays. (Financial Times)
Moelis adds restructuring veteran. (MarketsMedia)
Profits up 20% at Tullett. (Financial Times)
Michael Moore is taking 10 bankers to dinner. (New York Post)
Jimmy Cayne spends his days playing bridge and getting nagged by his wife. (Daily Beast)
