Barclays Traders Go Bonus Berserk
Senior Editor, CNBC.com
You want another sign that we're in a new financial bubble? Here you go: drunk traders bragging about bonuses and buying ridiculous toys.
Youth unemployment might be teetering at the one million mark but, in the bars of the City of London, rich financiers were splashing the cash like the worst excesses of the 80s.
Traders from Barclays Capital, whose boss Bob Diamond yesterday revealed a £6billion profit, celebrated their bonuses by downing £195 bottles of Cristal champers and buying luxury motors.
The “banker’s choice” of luxury sports car—the £70,000 Porsche 911 Black Edition—is selling out as the fatcats fill their boots again.
One sharp-suited trader boasted as he quaffed a glass of bubbly in a swanky City bar: “Everyone in here is BarCap. The reason there’s so much champagne is because it’s our bonus day.
“Even if a guy is really lazy and has done s*** all year, he’ll still get a £600,000 bonus.
“The PAs even got bonuses today, some of them got £60,000.
“Most traders got two, three, four, five and even six million. Some people are annoyed because they don’t think they got enough this year.”
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