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Off the record

"This is worse then a divorce – I’ve lost half my net worth but I still have my wife!"
A trader bemoans his hard luck

"Us intermediaries – we are like US army reservists that didn’t expect to end up in Iraq. We just thought we could have good time flipping assets. We didn’t expect to end up owning the risk!"
Get the feeling it’s war out there?

"So Goldman Sachs and Morgan Stanley are becoming banks? I want one of those accounts! I want a Goldman toaster"
A trader suggests the former investment banks might benefit from using old marketing techniques to entice customers to open new accounts

"Dear Sirs,
In view of what seems to be happening internationally with banks at the moment, I was wondering if you could advise me. If one of my cheques is returned marked ‘insufficient funds,’ how do I know whether that refers to you or to me?"
A letter by a customer to a bank seen by Euromoney. One can’t help feeling that the balance of power in the relationship has changed somewhat

"I was walking the dog the other day when I bumped into a neighbour, who was retired. He’d just seen the news about the stock markets plummeting. He started talking about it and asked what I did. I told him I was a fund manager. He said: ‘I’m sorry’"
There’s no escape for some people in financial services

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