Lunchtime Links: It transpires that France's bonus tax is far less restrictive

If you're concerned about the future of the City but were drawing comfort from the fact that France has also imposed a version of The Tax, then we're sorry to blizzard on your positivism, but it looks like the French Tax is a mere flake to the British snowball.

The Financial Times points out that the French Tax will be restricted to traders whose activities could expose their employers to risk. As such, only 2,000-3,000 people will be covered. By comparison, the UK tax applies to everyone involved in the 'activities of banking' and could ensnare 20,000-30,000 people. As The Times points out, this would appear to include banks' IT professionals.

The reputation of London built over decades has been crushed in months. (Financial Times)

Imagine being in prison. But without the comradeship, the drugs and the laughter. This is what Switzerland is like. (FinTag)

I have it from impeccable sources that several of them [bankers] have rung up their mates and contacts in 10 Downing Street, the Treasury and BIS (Department for Business, Innovation and Skills), to ask if they can be let off the 50% one-off bonus tax. (BBC)

The Fleet Boston guys are in charge of the bank now. (WSJ)

Mr Moynihan said he was happy with the bank's business model, which combines a massive retail banking base with a strong investment bank. (FT)

Meredith Whitney cuts her estimates for Goldman and Morgan Stanley. (MarketWatch)

What is the minimum all-in annual comp you would accept to do this job? (Wall Street Oasis)

Fidelity Investments sacked four US employees for playing fantasy football. (The Times)

My Daddy's a Banker: How to Break It to Your Children That All You Care About is Money. (Gawker)