Lunchtime Links: Which bank will be outed by WikiLeaks?
According to Forbes Magazine, a major US bank is due to be, "turned inside out", by Wikileaks early next year.
Tens of thousands of its internal documents will reportedly be exposed. Wikileaks' founder Julian Assange doesn't say which bank is being targeted, simply that it's a "big US bank", that the leaks will, "give a true and representative insight into how banks behave at the executive level in a way that will stimulate investigations and reforms," and that, "some flagrant violations, unethical practices that will be revealed, but it will also be all the supporting decision-making structures and the internal executive ethos that comes out."
None of this sounds good. The likelihood is that it will be a US bank with a big retail arm. The bank concerned is likely to take a hit to its share price, which will be particularly bad news just after bonuses have been issued (in stock).
Might it be Citigroup? JP Morgan Chase? Bank of America? Wells Fargo? (SenseonCents)
Could Wikileaks revealing major bank secrets crash the global economy? (MarketOracle)
JPMorgan is "incredibly impressed" by the opportunities in South Africa and has been relocating people there. (Bloomberg)
The BNP Paribas headcount reduction plan? (Dealbreaker)
It's not easy setting up a hedge fund these days. (Reuters)
Gramercy, the US emerging markets fund, is setting up in Knightsbridge. (Financial Times)
It's been a great year for agricultural traders. (Financial Times)
After the financial crisis, some firms started paying salaries ranging from $3.3m to $9.9m. (Wall Street Journal)
"Bond purchases by the European Central Bank are the only anti-contagion weapon left. It needs to act much more aggressively." (Telegraph)
The story of 'Bobtimistic' Bob Diamond, formerly an average student. (Bloomberg)
Irish issues: The Taiwanese animated version. (BusinessInsider)
