Off the record
"We have all the signs of emerging markets in the US now – there’s stagflation, growing unemployment, excess debt, poor monetary management – I just wonder when the US will be included in the EMBI+"
A disgruntled senior emerging market banker lets it be known he’s not bullish about the US
"The management of accounting rules today is a scandal. It is as if the ayatollahs are running the world and imposing their own theoretical values"
One European bank CEO bemoans the reality of marking to market as living in the economy of the instant
"Every company’s strategy is founded on providing added value to clients. No, wait... sorry, that’s what our strategy is"
A Middle Eastern banker reveals what sets his company apart from regional rivals
"We got a call from someone representing the Koreans asking us what to do"
A spokesman at a Middle East sovereign fund reveals how Korea’s state-owned institutions are seeking advice on whether or not to invest in those international investment banks desperately wanting their money
"'When he joins the firm in early 2009’... that’s being optimistic! There may not be a firm in early 2009"
One wag’s cynical interpretation of Carsten Kengeter’s appointment as the new head of FICC at UBS. He is scheduled to join "in the early part of 2009", according to a press release