Lunchtime Links: 5k for a week's work experience with Crispin Odey; Brazil is where the really big pay is

Unfortunately, this buying opportunity has passed and it probably won't appear on the secondary market (eBay), but it's worth noting that someone has paid 5k for hedge fund work experience. The Telegraph reports that the purchase took place at an auction at the Spirit of Britain Charity Ball at the Savoy. Crispin Odey apparently threw in the work experience opportunity as an afterthought. Cynicism/realism suggests that the purchaser may have been a wealthy parent looking for a leg-up for their offspring.

Separately, if you want to make money in an emerging market, you shouldn't be going to China. According to figures from the Options Group published in the Financial Times, top managing directors in Brazil are earning twice as much as their colleagues in China and 15% more than in India or the US. Options Group puts average pay for top MDs in Brazil at $1.7m. The FT says there's an acute shortage of Portuguese speakers and that banks are being forced to pay big packages to lure Brazilians from corporates.

George Osborne doesn't want to force banks to disclose payments over 1m after all. (Financial Times)

Vince Cable: "Outrageous and irresponsible pay structures were a driver in our financial crisis." (SkyNews)

Several major fund managers in the UK were unaware that large numbers of senior bank executives below board level were paid much more than the executive board median. (Financial Times)

Nomura chairman says London's secure as a financial centre and that bonuses didn't cause the crisis. (Telegraph)

There are very few reasons for hedge funds to be based in France. (Financial Times)

Ireland's banks will effectively be nationalized and any future mortgage losses will have to come straight out of these bailout funds. Which aren't remotely sufficient for such a task. (Reuters)

Lloyd Blankfein passed on an opportunity to lower expectations about Goldman's return on equity. (Financial Times)

US Banks Face $100bn capital shortfall. (Reuters)

Goldman's looking for a chief executive for its new multilateral trading facility. (Financial News)

Ex-SocGen employee confesses to stealing the bank's code because he 'wanted a job.' (WSJ)

Credit Suisse investment banker awarded more than 1.5 million after she was made redundant after maternity leave. (The Times)

Migrant work visas could be auctioned off to employers who are "prepared to pay whatever amount" necessary to bring skilled foreigners into the UK, an official committee has proposed. (The Times)

Cambridge University says that the number of graduates going into banking and finance increased from 6.7% in 2006 to 8.5% in 2009. (Financial News)

Lex Van Dam and Anton Kreil have both launched trader training businesses. (Telegraph)

Kindergarten test scores are highly correlated with earnings at age 27. (FarnhamStreet)