Lunchtime Links: Banks want to increase headcount in China and India

As we contemplated earlier this week, there's a possibility that much of banks' rediscovered enthusiasm for recruitment may be directed at Asia.

The Financial Times today reports that banks are suddenly keen again to hire or reallocate senior people to cover the growing markets of China and India. In many cases those people are based out of Hong Kong.

Dispossessed M&A bankers may also want to cast an eye to Australia, where deal volume is up 74% year on year. However, this hasn't translated into hiring yet.

Christine Lagarde wants bonuses to be capped globally. (CNBC)

Total pay in the financial services industry was 4 per cent of total national income, which compared with public sector pay at 16 per cent. "Which figure is too big?" (The Times)

Geithner's new capital requirements (Wall Street Journal)

Barclays has repackaged downgraded CDO into new AAA rated bonds. (Bloomberg)

Why financial innovation wasn't so bad. (Economics of Contempt)

Maybe I am doing this all wrong and should go bankrupt, live off state benefits for a couple of years, change my name and spreadbet instead? (Fintag)

Britain's most productive employees. (Motley Fool)

Mr Moulton has left Alchemy Partners and he has got bad words and evil vibes for everyone. (Money is the Way)