Business Diary: Not just an ordinary bear
Thursday 07 October 2010
Does the punishment fit the crime? When US hedge fundmanager Paul Greenwood pleaded guilty last month to defrauding clients, he no doubt expected the American courts to be tough with him. But even before the sentence is handed down, the pain has begun for Greenwood: he's been forced to auction his collection of 1,350 teddy bears, which until now have been displayed inpresentation cases at his home. Amazingly, the bears are thought to be worth £2m.
Bank bosses gambling again
Compliments to Euromoney magazine, which hasproduced a novel version of the famous Top Trumps game to mark this weekend's International Monetary Fund summit. The cardsfeature bank CEOs from around the world, complete with their vital statistics and caricatures. We like the card featuring Barclays' John Varley, which portrays Bob Diamond as a back-seatdriver, and doing Stephen Hester at RBS as head boy is good too. Sir Fred Goodwin makes a special appearance, as a particularly sinister-looking Joker.
Mitchell comes to the City
Never let it be said that TV comic David Mitchell is under-exposed. Not content with appearing on every BBC panel show going, he's now going to host a City quiz night – the Brain Game – in which teams of financiers will seek to establish their intellectual prowess. For once, the City's competitive instincts will be harnessed for a good cause, however. It's a charity bash, with all themoney raised going to St John Ambulance.
Buffett wants the pain shared
Warren Buffett's suggestion yesterday that rich folk like him ought to pay a bit more tax will have won a few brownie points with middle America. Even more likely to win him friends was thecomplaint he made about bank bosses not havingsuffered sufficiently from the travails of their companies. "You should go broke," he said to the bosses of banks who had to be bailed out. "And I think your wife should go broke, too."
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