Lunchtime Links: A beautiful and intelligent former intern says her experience at Goldman Sachs was deeply upsetting
JPMorgan does not have a monopoly on beautiful female interns. 27 year-old Brit Marling, film star, film producer and script writer, interned at Goldman Sachs while she was studying economics at Georgetown University.
This is Brit today:
Marling received an offer to join Goldman when she graduated, but didn't take the firm up on it because, she says, her experience there was "deeply upsetting."
She doesn't explain precisely why, but in another interview, Marling says working at Goldman, "didn't feel right," and that she could, "feel the light in me becoming dimmer.
"It sounds dramatic, but I thought, 'This is a matter of life or death'," she added.
After turning down Goldman, Marling went to Cuba and then moved to LA with her two best friends to make films. She spent two years reading screenplay writing books and writing the scripts to two films (Another Earth and Sound of My Voice). Both were made. Both featured Marling. Both were very well received at the Sundance Film Festival this year.
Marling says she was the girl who spent every night studying in the library, getting perfect grades. And that there was great shock when she suddenly said: "I'm dropping out. I'm going to Cuba. I'm going to be an artist."
Profits up 24% at Citi. (Dealbook)
Almost half of Citi's pre-tax profits came from loan loss reserve releases. (Zerohedge)
About 10 banks will fail the European stress tests. (Bloomberg)
JPMorgan says 15 banks could fail the stress tests. (Euromoney)
The tests do not take into consideration that a European country could default upon its debt. (FX Street)
Banks failing the stress tests will have six months to raise new capital. (Independent)
Indecisive and confused action by European authorities seems doomed to ensure that this restructuring, if it eventuates, will be followed by others and an eventual messy, disorderly and expensive default. (Wilmott)
JPMorgan analysts are warning of "material staff cuts" across second-tier investment banks struggling with high fixed costs. (Reuters)
60% of the 1,000 job cuts at Credit Suisse could be in the investment bank. (Financial Times)
A proposal by the European Commission would impose punitive capital charges on banks providing over-the-counter derivatives to companies. (Financial Times)
The ways in which working in finance will prepare you for a start-up career. (Quora)
Baboon studies suggest it's inadvisable to be an alpha male. (NY Times)
