Despite (or perhaps because of) losing $55m in the second quarter, Fortress Investments has allocated $300m of stock to a 38 year old star trader in an effort to prevent him from going to work anywhere else anytime soon. (Wall Street Journal)
RBS sells $8bn of loans to private equity funds, 30% returns predicted (Financial Times).
Credit Suisse hiring 140 people in India (Financial Times).
Fearful clients pulling funds out of UBS (Bloomberg).
Lehman’s hedge against rising oil prices: buy a bike parts company (Clusterstock).
$1.7m of suspect options suggest Bear was victim of insider trading. (Bloomberg).
Fannie Mae admits it might not have enough capital to make it through the year (Independent).
7 reasons why you shouldn’t work in the back office (Mergers and Inquisitions).
Avoid the sack: buy a tie (Telegraph).
Confessions of a risk manager (The Economist).
£1m a minute wiped off UK wealth since the credit crunch began (Guardian).
The future is frugality (The Telegraph).
Bankers fight for £1 a night hotel rooms (The Times).
Urban castles of the private equity kings (DealBook).
Richard Lambert: Dark Knight (MoneyistheWay).
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