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Quotes of the month

"Fucking well turn that music down. I’ve asked you twice TO TURN THE MUSIC. DOWN"

Leading investor Edouard Carmignac wanted no distractions as he listened to bankers pitching the $70 billion fundraising for Petrobras

(see The investor who tried to pull the plug)

"You’ve seen a decade of internationalization in ownership of European government bonds reversed in a couple of quarters"

David Knott, head of FIC sales at SocGen, on how domestic investors have come back to the fore in European fixed income

(see Banks take big risks in government bonds)

"All this talk about walking away from the pubs is just softening up the bondholders for a really bad deal. This will be a classic contentious situation"

Investors in Punch Taverns look like they are in for an arduous session

(see Punch drunk: Battered ABS bondholders face knockout blow)

"If investors are sound people, it doesn’t matter about their nationality. Problems arise when people don’t have an idea what governance is or what ethics are"

A Portuguese banker bemoans the increasing influence of Angolan investors in his country. By the way, he swears he never sold a CDO squared

(see Angola’s elite looks to clean up in Portugal)

"The best lender is the one who is already stuck as he was dumb enough to lend to you in the first place"

A banker reckons that ‘extend and pretend’ still has a way to go in the loan market

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