This is the conclusion of an article on Bloomberg, which cites the trusty Options Group bonus survey and says FX traders will receive bonuses only 15% lower than last year’s compared to an industry average decline of 45%. Separately, FinAlternatives says Mulvaney Capital Management’s quant focused commodities fund has achieved returns of over 98% this year after last month’s interest rate cuts had a ‘positive impact’ on its FX positions. Some people, it seems, are still doing well.

Merrill bankers might get a bonus after all (Guardian).

Banks won’t say what they did with the bailout cash (CNBC).

$1.6bn of US taxpayer money straight to bailed out bank execs (Clusterstock).

Goldman’s compensation costs are still too high (SeekingAlpha).

Wachovia bonuses down 90% or more (DealBook).

Crazy borrowing was going down (Guardian).

Female terriers sought for banks’ boards (Telegraph).

28 people made redundant at Mad’s London office (Telegraph).

The bright side of redundancy (The Times).

Nomura/Lehman won’t make a profit soon (The Times).

In April, the impression that Dick Fuld, chairman and chief executive of Lehman Brothers, was seriously out of touch with reality became palpable. (The Times).