UK
Lunchtime Links: Profit per head halved at BarCap
7 August 2008
BarCap hasn't exactly done badly compared to its peers, but a more than halving of average net income per head in the first half of 2008 vs the first half of 2007 doesn't look particularly auspicious for bonuses. (Barclays’ Q2 results)
“These are bad results, but in relative terms they are pretty decent.” (Bloomberg)
Something foreign wants to buy Collins Stewart. (Financial Times)
Dresdner’s not looking so hot after losing €566m in Q2. (Reuters)
Shocker: Blackstone posts a loss. (Guardian)
GLG isn’t the same without Coffey: profits turn negative and big fund outflows. (FT Alphaville)
Chief risk officers think banks need restraining: “Is this the death of securitisation?” (Financial Times)
“Virtually everybody was frankly slow in recognising that we were on the cusp of a really draconian crisis.” (DealBook)
Blame the credit crunch on the politicians. (Independent)
It would all be OK if banks could be forced to ditch short-term debt for long-term bonds. (Bloomberg)
Fake-suicide hedge fund manager too far gone on methadone to plead guilty. (Clusterstock)
