From investment bankers to data processors and executive secretaries, the mood outside the Manhattan offices of both companies was skittish, even as most reassured themselves that in view of the strong economy and healthy demand for talent, they could manage a soft landing even if the worst happened.
And it is perhaps important, if not reassuring, that the trigger for the turbulence (as opposed to the underlying cause) is government words and deeds, rather than the madness of bankers, or data that tells us something scary about the financial fragility of the world that we didn't already know.
Regulators and bankers lacked the data and analysis to see all the hidden risks in the financial system.
However, as the bankers examined the data more closely, reviewing a set of customer segments that the team had created, an analyst used her intuition to suddenly notice a valuable new insight.
Writer cites Anthony Lamport, an investment banker who has data on 400 N.Y.
This followed efforts earlier in the year by a UK working group of open data experts, bankers and fintech specialists to develop an "open banking standard".
The government faces renewed pressure to announce tough measures on bankers' pay this week as data shows that the average remuneration for 1,265 senior staff was £1.8m in 2010.
While Mr. Brodsky did refer to notices sent to bankers asking for specific data on two stocks -- VA Linux and Selectica -- he could not remember sending the warning that would have alerted Mr. Quattrone to the wider investigations.
FINANCIAL TIMES Preparing to Go Public in an Uncertain Market | More than 1,400 companies, including Facebook and Manchester United, are planning initial offerings this year, according to Bloomberg data, but bankers expect 2012 to be as rough as 2011, The Financial Times writes.
