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The Moorgate saga: Copper bottomed code

The Bankers' Club, 7 Lothbury, London EC2

I am propped up peacefully against a corner of the bar here, doing some field work as chair of the club's special sub-committee on martini mixes, but what happens next, these guys shanghai me, Herbie, they say, just the man we need, how much do you know about copper, as much as us, well, then, you can write us all a code of conduct.

What I know about copper is that this Mr Five Per Cent from Sumitomo turns out to be long of the world's stock of it and has options on Mars and goes down for $4 billion, well, so what if he does, Sumitomo can afford it, and copper is one fine mess even Holey Buckett never gets us into, tho' he tries.

Holey knows someone who makes £156 a year from trading it, the guy is out to lunch half the time and now retires to Monte Carlo, so it must be money for old rope, says Holey, and why do we not take the business on, I tell him to lie down until the feeling goes away, and now it turns out this guy fronts for Sumitomo, which explains why he has copper on his fingers.


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