Off the record
"Richard Branson likes to make out he’s Robin Hood when in fact he’s more like the Sheriff of Nottingham"
A senior London-based investment banker on Branson’s Virgin Group’s plans to ‘save’ Northern Rock
"You want to know how most hedge fund managers are doing right now? Take a look at their faces. The bloodshot eyes, haggard features... They look like they are constantly dealing with a hangover"
A New York lawyer’s remarks on how the market is taking its toll
"95 is the new par"
A leveraged finance banker sums up the current fashion in the loan market
"This year will see a change in the most popular form of LBO exit to... insolvency"
A wag takes a dim view of the LBO market’s fortunes
"If you look at Merrill Lynch and Citi, the fatal mistake they made... I mean, the near fatal mistake they made... well, actually it’s still very open whether it’s fatal or not... was that they couldn’t control the creation of a CDO monster..."
A senior banker trips over his tongue when drawing similarities between Merrill Lynch and Citi