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The relaxation of mark to market accounting rules might have driven Deutsche to an overall third quarter profit, but it didn’t do much for its corporate and investment bank, which made its third straight quarterly loss. Cost cutting doesn’t appear to have kept up with falling revenues (according to the Guardian a compensation freeze imposed in the first half has now been lifted): the ratio of costs to income in the corporate banking and securities area of Deutsche Bank now stands at an unpromising 173%. A mere 67 jobs were cut at Deutsche’s corporate and investment bank in the third quarter. With costs like that, there may be plenty more cuts to come.

94 new Goldman partners this week vs. 115 new ones last time (Wall Street Journal)

Goldman may have to cull a few partners soon (Financial Times).

Goldman turns out the lights to save cash (Clusterstock).

“I would like to inform you that we will not be holding our annual Seasonal parties this year.” (Dealbreaker)

What Does "Deleveraging" Really Mean? Cutting $25 Trillion Of Debt (Clusterstock).

Porsche didn’t kill as many hedgies as people think (Alphaville

ABN AMRO’s ex-chief wishes says sale was regretful (Bloomberg).

Thinking Buy-Side Opportunities in Infrastructure? Think again…(BankerGoneBroke).

Dresdner Kleinwort man resurfaces on the buyside (Financial News).

Credit Suisse hires Lehman banker (Reuters)

Don’t even think about asking Wall Street bankers to surrender their bonuses (Bloomberg).

Annoying banker wins the lottery (NY Post).