Early Lunchtime Links: Why the Walker Report is scary
As you will quite possibly be aware, the Walker Report is frightening. It contains a proposal that the names of all persons earning more than a bank's board should be made publicly available, along with the particular pay band that they fall into.
Walker says he wants the rules to apply to all banks in the City, US banks included.
The proposals come after Walker apparently unearthed a "surprising number" of high earning bankers below board level. He's been consulting with banks over the past six months at the behest of the Treasury and is due to publish a final report in November. There's no guarantee that his proposals will become law. But nor is there any guarantee that they won't.
UK government has paid 11.5m in investment banking fees this year, up 62% on 2008. (Bloomberg)
An increasing number of people believe BarCap will do a Goldman and deliver dazzling half-year numbers on August 3rd. (Alphaville)
Goldman decides not to persecute the Goldman666 blogger after all. (Finextra)
A partial defence of Goldman. (Economics of contempt)
BofA pays bond salesman Bryan Weadock $6m. (Wall Street Journal)
Citigroup powering up its European power banking team. (DealJournal)
Korn/Ferry will no longer be paying 600k Holland Park opera. (Bloomberg)
