Lunchtime Links: French bankers can breathe a sigh of relief

For a brief moment at the weekend, it looked as if French politicians were prepared to sacrifice their bankers on the altar of unilateral bonus capping. On Saturday, The Times reported that Christine Lagarde was going to go it alone and cap French bankers' bonuses even if other countries demurred. However, it now looks like Christine has had a change of heart.

The Financial Times reports that France has decided against unilateral bonus caps despite the 'scandal' that bonuses represent. French officials say their main objectives have, in fact, now been met in the form of promised deferrals and writedowns.

BarCap's trade reporting deficiencies. (The Times)

Bad news for Deutsche traders - deleveraging and risk reduction remain the focus. (Bloomberg)

Commerzbank's salary cap will expire at the end of this year. (Bloomberg)

Who said M&A's resting? (Alphaville)

The bid is back. (The Times)

A rare Wasserstein sighting. (Wall Street Journal)

Lazard hires Deutsche exec for M&A and restructuring. (DealBook)

Two independent research boutiques (AlphaValue and Autonomous Research) are now open for business. (Financial News)

Sandal-wearing, bucolic living Dick Fuld feels, 'dumped on.' (Reuters)

Where the Lehman execs are now. (MarketWatch)

The largest talent magnet in China. (Wall Street Journal)

How China cooks its books. (Naked Capitalism)