If you work at a TARP funded bank and were thinking of joining JP Morgan, don’t. Yesterday, Jamie indicated his unwillingness to hire out of Citigroup or Bank of America on moral grounds.

According to Jamie, “going against these companies [Citi and BofA] that are hamstrung” (by the restrictive requirements of pay czar Kenneth Feinberg) will only make matters worse. Saying, “Let’s go hire their best people,” would be a “terrible thing to do,” Dimon said. Employees at BofA and Citi may beg to disagree.

“The company that I worked for doesn’t exist. Merrill Lynch doesn’t exist as a company and I would say it doesn’t exist culturally.” (Business Insider)

Bill Winters would rather run a European bank, hedge fund, or private equity firm than BofA. (NY Post)

Jamie Dimon: “We think everything should be allowed to fail.” (Financial Times)

“The chance of financial Armageddon is over. Confidence is coming back. This is what a recovery feels like. Corporate credit is flowing, and corporations are flush with cash.” (Dealbreaker)

“On average, base salaries climbed to $437,896 a year as a result of Mr. Feinberg’s review, compared with $383,409 previously, a 14% increase.” (WSJ)

Cash salaries up 87% for Citi’s top 25; total comp down 69%. (WSJ)

Nomura: costs are under control, we’re profiting from increased trade with Lehman’s former clients, and we’re using Lehman’s network to land advisory contracts on cross-border deals. (Reuters)

“We’ve been working on integrating Lehman’s business for a year, and making a profit was a pressing issue.” (Bloomberg)

Robin Budenberg, career investment banker, to work for the government. (The Times)

Barclays would not comment on Mr King’s joining package. (The Times)

CNBC viewership down 50% year on year in October. (Business Insider)

Guess what? Unemployment is surprisingly pleasurable. (WSJ)

Nelson was back at work half an hour after losing an arm. (Telegraph)