UK
Lunchtime Links: Senior Lehman traders urgently requesting a job that pays at least £150k
17 September 2008
What do you do when one minute you’re gainfully employed and the next you’re dangerously skint and struggling to pay the bills? The answer appears to be to call a recruiter and request any job that pays base plus a very modest bonus. Trouble is, £150k is a lot of money outside banking.
Bob Diamond feels your pain. (The Times)
Laid off (or not) by Lehman. (Laid Off By Lehman)
Maybe KDB will buy Lehman’s UK operations? (Korea Times)
Cheering news: 110,000 jobs to go in the City. (Telegraph)
The mother of all bail-outs. (Bloomberg)
Why AIG was downgraded. (CNBC)
Why AIG was too big to fail. (Bloomberg)
"The fear is just huge. People are worried about counter-party risk." (Guardian)
Goldman results are worst for nine years. (Telegraph)
Morgan Stanley results are better than expected. (CNBC)
Morgan Stanley eyeing up well capitalised banks. (CNBC)
"If AIG had gone the way of Lehman, their alt-a and prime debt prices would have been discovered and Goldman and Stanley would too be on the list of next to die." (Fintag)
The ultimate market cap meltdown graphic. (New York Times)
Russia suspends trading in just about everything. (FT Alphaville)
Thain and two chums to reap $200m for selling Merrill. (Bloomberg)
Blow-by-blow account of Lloyds’ HBOS negotiations. (BBC)
Thats the problem with banking. You can get paid £150K for being a tea boy with good academics and an ego. Surely it cant be too much to ask in any new job? However at £150K dont expect the banker to put in over 50% of effort. In fact 10% - 30% is probably what the salary is worth.
Besides £150K per yr living in london is probably just enough to get by.
Those now redundant may have to start living in more of a real world.
Trader 1 17 Sep 2008
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