Quotes of the month
"It’s quite hard to make a case for subordinated debt at all"
Paul Tucker, deputy governor of the Bank of England, has a tough message for both bank chiefs looking to raise non-equity capital, and for the DCM originators trying to promote it
"I don’t trust analysts. They always get it wrong!"
Miguel Jorge, minister of state for Brazil, makes his views clear
"Our investigation has uncovered troubling facts about Bank of America’s acquisition of Merrill Lynch, and Mr Lewis was at the center of this controversy. We hope that Bank of America’s new leadership will quickly repay American taxpayers and help us finally resolve unanswered questions about this merger"
US House Oversight Committee chairman Edolphus Towns doesn’t take the opportunity to thank Ken Lewis for 41 years’ service building Bank of America into one of the world’s biggest financial institutions
"While the rest of the planet is conditioned through notions of law and honour, brute force is what shapes Russian behaviour. The fact that Russian political or business leaders lie or act immorally has no adverse social consequences. On the contrary, it is a testament to the figure’s favourable social standing as an indicator of their enormous bravado and brawn. Given such social references, it is not surprising to have witnessed the rogue type of behaviour that came out of the east during the past year"
Walter Molano, head of research at BCP Securities, pulls no punches on Russia’s defining characteristics