Off the Record
"Well, he is German"
A banker can’t resist resorting to national stereotypes in explaining his colleague’s organized character
"They’re like a cat stuck in a cradle and getting more entangled with every move they make. Really, they are running round like headless chickens. They think they can just wave their magic wand but, quite frankly, the emperor has no clothes"
Euromoney isn’t sure who is more muddled: the Federal Reserve or this economist critic of quantitative easing
"Dick Fuld used to say: ‘We’ll go back into Russia over my dead body’. I’m sure that’s one market where it could have been arranged"
A former senior Lehman Brothers banker and his colleague discuss the firm’s difficult history in a key market
"I heard Macquarie were going to call their new FX platform Mates (Macquarie Algorithmic Trading Execution System) until someone pointed out that that’s also the name for a brand of contraceptive. I think it’s a shame they’ve dropped it – the slogan could have been: ‘We’ve got you covered’"
A market source ponders the protective measures some banks are forced to take these days
"Writing a proposal to start reinvesting in ABS is equivalent to signing my resignation letter"
A portfolio manager is blunt about the challenge facing the securitization market
"When I was laid off I asked my bank to reduce the fees on my current account. They came back and offered me a mortgage"
An Irish refugee in London