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Why is it that it seems that it is always non-US banks that buy into the New Yorker hedge fund hype and get stung for billions? If I recall, Deutsche Bank got caught out last time. It seems that staid European banks working off narrow margins in their home markets want to sex up their results with some "profitable" foreign trades and always get stung. Something to do with massive banker bonuses for short term trading gains which incentivise individual risk taking at the expense of the company and home economy as a whole. The Irish banks are currently chaffing at government restrictions on banker bonuses and salaries as they want to be able to attract and reward "talent".

With talented people like these, who needs bumbling bureaucrats?

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Mon Mar 29th, 2021 at 07:12:00 PM EST

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