As we noted in a few weeks ago in a moment of rare prescience, working for the FSA suddenly looks a lot less appealing now that the Conservatives have promised to obliterate it.
Unsurprisingly, existing and potential FSA employees appear to have reached the same conclusion. Current staff are suddenly eager to join unions and putative staff are having a long hard think about whether it's very advisable to go and work somewhere that may not exist in 12 months' time. At the FSA's annual meeting yesterday, Hector Sants said that recruitment problems could be and have become an issue. The concerns may be unnecessary however: as we noted previously, many FSA staff are simply likely to be tranferred to the Bank of England.
JP Morgan will increase the salaries of half its investment bankers from 2010. (Bloomberg)
"It is clear today that the City is in great difficulty and that is an opportunity for France to reinforce its financial attractiveness." (Financial Times)
RBS getting ready for "the most radical restructuring ever undertaken in the banking sector, including major asset and business disposals." (The Times)
If the whisper number is correct - and who really knows? - Goldman just paid as much as $700 million to soothe public anger and buy goodwill. (DealBook)
Mack's more sensible approach to risk taking and trading should prove to be a better business model. (Reuters)
Four nasty Bear markets of the past, and where we are now. (Seeking Alpha)
Study maths, earn more. (CNN)