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Off the record

"Putting an idiot in a suit doesn’t make him a private banker"
A wealth management client bemoans the lack of talented private bankers in Asia

Euromoney: "It seems banks’ treasurers are becoming less concerned about paying up for liquidity. As Keynes said: ‘The market can stay irrational for longer than you can stay solvent’"
Banker: "And maybe the market is being rational..."

Gallows humour from a senior European FIG banker

"If at the end of the day a market that has caused two million Americans to sleep under a bridge emerges smaller than it was before, I think I can probably live with that"
ABS bankers looking for sympathy from this regulator will get pretty short shrift

"If things go to hell, we don’t have an answer. I hope it won’t happen, but if it does... I don’t know"
A funding official at the captive finance unit of a European carmaker considers the impact of a vanishing ABS market

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