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Barclays Traders Go Bonus Berserk

Wednesday, 16 Feb 2011 | 10:54 AM ET

You want another sign that we're in a new financial bubble? Here you go: drunk traders bragging about bonuses and buying ridiculous toys.

From the UK's Mirror:

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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