If you want to be respected in an investment bank, you must, self-evidently, not wear brown shoes. However, standard black shoes may not have the desired effect either.
Business Insider purports to have pinpointed the shoes that confer ultimate kudos at Goldman Sachs: Salvatore Ferragamo loafers.
Aspiring Goldman Sachs bankers are not advised to purchase the loafers unless they are senior. Only MDs wear them. Analysts and associates would apparently be, "cut down" if they bought a pair too early.
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"They're totally freaked out about Volcker," said a Goldman lobbyist who declined to speak on the record for fear of losing the contract. (Reuters)
An analyst at UBS suspects Lloyd Blankfein will resign soonish. (Bloomberg)
Citigroup has hired UBS's former US M&A head, who left in March. (Bloomberg)
The rebuttal to Lucas Van Praag's rebuttal about Goldman and food prices. (Foreign Policy)
Citigroup, Credit Suisse and Morgan Stanley will make lots of money from the Glencore IPO. (Financial Times)
Will RBS suffer similarly to Lloyds? (Evening Standard)
Ayn Randists are now sponsoring universities, making Atlas Shrugged required reading. (Bloomberg)
Men have larger tear ducts than women. You can't see when they cry. (WSJ)