Credit crisis diary: The gorilla gets his comeuppance

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The Independent Online

Lehman boss Richard Fuld looked fine when testifying in front of a Congressional committee yesterday, despite a recent punch-up. CNBC, the US business channel, says Mr Fuld, nicknamed the Gorilla for his formidable build and attitude in the market, made the mistake of going to the Lehman gym on the Sunday immediately after the firm's bankruptcy. In the middle of a weights session, a fellow gym user (and presumably colleague) knocked him out cold.

Dial 1 to panic

Savers need reassuring in these dangerous times. So how worrying is it then, that the staff at the Financial Services Compensation Scheme press office were so flat out yesterday that they were resorting to hanging up on all callers immediately on answering? It surely can't bode well for worried depositors.

Back on the market?

When one of the more desirable mansions in leafy Hampstead came up for sale a year ago, Martin Hughes, co-founder of Toscafund was able to exchange contracts before it even went on the market. An irate estate agent called the next day to say his client, Roger Jenkins, the most highly paid employee of Barclays Capital, was after the same house and would Mr Hughes like to name his price. He might like to reconsider his refusal now Tosca's main hedge fund has become another victim of the credit crunch. It may have to be wound up.

The revolution willbe televised

The global credit crunch is an opportunity for enemies of capitalism to seize their moment. So it's amazing it has taken so long for the Socialist Workers Party to mobilise forces. Still, they're here now – if you want to join the attack on the City, the SWP will be in town on Friday at 4pm, leading a protest at the Bank of England.

It's our ball and you're not playing

This will no doubt have the folks in the Treasury quaking. According to a forum held by the consultancy Temple Associates, hedge funds are so cross about the ban on short-selling the shares of financial services companies they're thinking about moving their business away from London. That's surely the last thing we need – all those nasty Mayfair types who've undermined the very fabric of our society moving abroad.

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