Lunchtime Links: It would really help to accept a teacher's salary for a few years
There are signs that the old order is trying to reassert itself. The Financial Times says banks are trying out a new form of ‘smart securitisation’ in an effort to elude regulatory capital requirements. The Sunday Times says various systems of tax avoidance are back in vogue, and City people apparently now feel sufficiently secure in their jobs to start buying large and expensive houses all over again.
However, disgruntlement is festering below the surface. Alistair Darling appeared in the News of the World to rant about kamikaze 'fatcats' bankers, and even the Telegraph’s business editor is advocating a low profile. “If bankers know what is good for them, they will take a teacher's salary for a few years until the storm passes,” he suggests. If not, be prepared for a nasty taxpayer backlash.
Goldman, Barclays Using Newfangled CDOs to Offload Bad Bank Assets. (Naked Capitalism)
Deutsche Bank spying on employees and shareholders. (Evening Standard)
A Goldman trading scandal? (Reuters)
Morgan Stanley: only good at M&A. (DealJournal)
Nomura and its swear boxes are moving to the City of London.(Financial Times)
Ondra Partners, a boutique founded just over six months ago by Lehman Brothers’ former head of UK investment banking now has more than 30 staff. (Financial News)
Abraaj Capital lures Deutsche MD.(Bloomberg)
UBS Global asset management plans to hire three sector specialist researchers. (Financial News)
£1.4m for top law firm partners.(The Times)
People climb in an organization until they reach their level of maximum incompetence. (Infectious Greed)
How to overcome jerks at work. (CNBC)
Why job rejection letters are your friend.(TheExaminer)
