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Mikesev

Ft: Investment Banks To Cull 10-15%

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Guest Winnie

The "we stay in print because of The City" FT is a study in bland, non-commital word and data selection. Very English Foreign Office, but to be read with enormous scope for extrapolation.

You have to double most of their figures to get near to the truth. The fact they are carrying this story and have done for a week or so, says everything about what is underway. 30-40% layoffs by Christmas, especially if te DOW tanks again.

Whatever Ben does to the IRs, the money markets are in shreds.... S&P bosses and Credit chiefs resigning all over the place....they won't be going without a whole army of termites also put to the sword beneath them......

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Cull, trim or adjustment, that will be 10-15% fewer bonus bunnies looking to sink their ill gotten gains into the London housing market in the next 6 months...

exactly!

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Cull, trim or adjustment, that will be 10-15% fewer bonus bunnies looking to sink their ill gotten gains into the London housing market in the next 6 months...

Decimation is the word they were looking for.

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Decimation is the word they were looking for.

Exactly! I'm glad to see someone else using the word correctly, as in "removing a tenth of", as when the Romans killed one in every ten men in a legion that had deserted or failed in some way. "Decimation" is used incorrectly by a lot of people now. They use it when they mean something like "devastation". Losing a tenth is of course devastating in many circumstances, but that's not the way people generally use the word.

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Cull, trim or adjustment, that will be 10-15% fewer bonus bunnies looking to sink their ill gotten gains into the London housing market in the next 6 months...

one could argue that as the losses have already been made, it leaves more for the survivors. Over the past few years, city bonuses have become heavily polarised where high performers subsidise the flotsam to a much lesser degree than in the past

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