Lunchtime Links: Hays rains all over the recruitment parade

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Much as it is nice to think that things are getting better and everywhere's hiring, this may not be an accurate representation of reality.

According to the notoriously depressing boss of Hays, life is still bleak.

He's predicting another tough year in 2010. He says the financial services market is still "tight" but that there is some recruitment slackness in the vicinity of risk and compliance, internal audit and insurance underwriters. It also transpires that Hays has frozen pay for all its staff and is cutting fees to win banking business as banks reduce the number of recruiters they use.

EU ministers asserting themselves as alpha predators vs bankers. (Naked Capitalism)

"Boris Johnson is out of touch with reality if he thinks he can water down this legislation" (The Times)

Living wills would make it easier for banks to die. (Financial Times)

Big banks should be broken up, not taxed. (Prospect)

Turner favours a capital surcharge. (Wall Street Journal)

A system where banks that have received massive support from governments and central banks think it is sensible to prioritize paying outlandish compensation packages to their employees ahead of repaying government capital, rebuilding their equity to support new lending or even rewarding their long-suffering shareholders is not a free market but a racket. (Wall Street Journal)

At its zenith in the 30 to 40 years that led up to the First World War, the City was proportionately a much more influential force in the land than it is today, yet back then it was widely admired as another outstanding example of Victorian achievement. (Telegraph)

As with all successful industries, some people have become very rich. Britain needs to specialise in areas like this if it is to remain a relatively wealthy society in the 21st century. (Prospect)

What causes trading slumps. (BigPicture)

How to deal with a resume gap. (CNN)

A day in the life of a Nymex trader. (ZeroHedge)

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