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The US treasury market reaches breaking point

The US treasury market reaches breaking point

The structural issue that could cause the world's market of last resort to grind to a halt

No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us

July 1999

Bloody bankers!





And the winner isn't...
Chase's gain is wine bar's loss
Lifetime achievement
Euroslaughter

Three blood-spattered bodies were found lying on the pavement in front of a Lloyds Bank branch in the City of London on June 18. Banker-types hurried by the gruesome scene with eyes to the floor. They knew it was directed at them. The City had been infiltrated by activists for Action against Global Capitalism Day - and they were determined to have their say. "We are not just a bunch of nutters, we know what's going on is wrong," said 17-year-old Tiggy McGregor, one of the blood-spattered protesters. This particular faction, The Campaign Against Arms Trade, was protesting against Lloyds Bank's alleged indirect investment in the arms trade through British Aerospace.

Police and protesters were on their best behaviour. Fake blood was plentiful and counterfeit banknotes sporting the Grim Reaper were passed around but no-one was visibly distressed. Only later in the day did other protesters turn violent.

The arms trade campaigners might have made even more of an impact had they consorted with the enemy and done some better research.

They didn't have a clue about the financial district's hot spots. Rather than targeting the Lloyds head office it chose the relatively inconsequential Cheapside branch.

The protestors didn't know their drinking dens either.

Bierrex on Creed Lane was listed on the protesters' website as a JP Morgan and Euromoney haunt ripe for disruption. They hadn't been told that Bierrex had succumbed to market forces and closed down months ago. We're an abstemious lot you know. Alex Mathias







The environment where anyone can leave a big firm and say I wanna start a hedge fund’ and have people throw money at them is clearly over

Grant Kvalheim, former president of Barclays Capital, is one of many senior bankers mulling life after the credit crunch

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