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Actually, my opinion is not that important. Carney from central banker's pespective is looking after macro-prudence. Bank is in the market to make money.

zuluking(Pursuit of Happyness)

But not all the banks created equal. Some banks are more aggressive than others.

CIBC在我刚刚进去的时候， head of fixed Income Phips Lounsberry和每一个associate 都单独聊了一下。那个时候，我记得清清楚楚，CIBC的高层决定going bullish on credit derivatives, and considered it to be a money making machine. 那是去年2月的事情了。不过市场决定一切，CDO, CDS市场风风火火有几年了。

再后来，Goldman Sachs 决定反市场，short ABX, subprime market index, 变卖他们的subprime产品的金融工具，其中CIBC 就购买了不少。去年4月GS就开始了一系列的运作，而也正是这个时候，CIBC的策略是在对美国次级市场不了解的情况下，going long, going bullish. 所以说，CIBC写掉的几个亿当中，有不少是被GS玩了。

再加上monoline insurance 被大量downgrade. 手上的金融工具变得一文不值。

anyways, it is a long topic

(#4464803@0)
Last Updated: 2008-5-24

Replies, comments and Discussions:

工作学习 / 事业与工作 / Age of Turbulence-第六集，被裁员了， Asta La Vista CIBC -zuluking(Pursuit of Happyness); 2008-5-24 {1493} (#4464539@0)

Take a break and move on, dude! -buickregal(Fearlessness); 2008-5-24 (#4464540@0)

thanks man....and good luck on your pursuit -zuluking(Pursuit of Happyness); 2008-5-24 (#4464556@0)

Thanks Dude, will start the ball rolling soon... -buickregal(Fearlessness); 2008-5-27 (#4469200@0)
Good luck TO ...... -axe(Just A Joke); 2008-5-28 (#4469981@0)

保重啊，现在银行业是形势不好，不过也是盛极而衰，前两年形势太好，和2000年的IT一样。JP MORGAN刚说要裁掉20％的"executives"，他还是这些银行里形势比较好的了。你还想back到IB吗？ -zhu(ironic); 2008-5-24 (#4464562@0)

希望市场会尽快恢复 -zuluking(Pursuit of Happyness); 2008-5-24 (#4464737@0)

刚看到这篇文章，能否谈谈你的看法： -nicetomeetyou(真情永远在人间); 2008-5-24 {664} (#4464783@0)
If easy money conditions return, Carney warned that policy makers have few tools at their disposal to soak up excess liquidity and encourage responsible, prudent lending practices.

"Central banks and other authorities should be as concerned about the distortions and inefficiencies created by overly easy financing conditions, rapid credit growth, and excess confidence about future market liquidity as those created by a lack of liquidity," he said.

"It is worthwhile for policy-makers to consider the promotion of macro-prudential regulations that could serve to restrain pro-cyclical liquidity creation among banks and market makers when appropriate."
http://www.thestar.com/article/429077

Actually, my opinion is not that important. Carney from central banker's pespective is looking after macro-prudence. Bank is in the market to make money. -zuluking(Pursuit of Happyness); 2008-5-24 {777} (#4464803@0)
But not all the banks created equal. Some banks are more aggressive than others.

CIBC在我刚刚进去的时候， head of fixed Income Phips Lounsberry和每一个associate 都单独聊了一下。那个时候，我记得清清楚楚，CIBC的高层决定going bullish on credit derivatives, and considered it to be a money making machine. 那是去年2月的事情了。不过市场决定一切，CDO, CDS市场风风火火有几年了。

再后来，Goldman Sachs 决定反市场，short ABX, subprime market index, 变卖他们的subprime产品的金融工具，其中CIBC 就购买了不少。去年4月GS就开始了一系列的运作，而也正是这个时候，CIBC的策略是在对美国次级市场不了解的情况下，going long, going bullish. 所以说，CIBC写掉的几个亿当中，有不少是被GS玩了。

再加上monoline insurance 被大量downgrade. 手上的金融工具变得一文不值。

anyways, it is a long topic

小声说一下拼写错误。Asta La Vista，应该是Hasta，H不发音。 -wangkeke(wangkeke); 2008-5-24 (#4464796@0)

correct, right spanish spelling has a H, I am not spanish speaker, so I am going with Urban Vocabulary -zuluking(Pursuit of Happyness); 2008-5-24 (#4465092@0)

AN H, I GO with Urban Vocabulary .... -axe(Just A Joke); 2008-5-24 (#4465110@0)

这么恐怖啊! 最近拿了一投行的offer, senior developer, 还犹豫着要不要去呢. 工资只比现在高一两万, 职位和福利都比现在差一点别(现在是政府里的 I.T. project lead), 大家也给点意见参考一下吧! -toronto321(toronto321); 2008-5-24 (#4465000@0)

现在人啊, 吹牛是想都不用想, 张口就来, 可能是加拿大太无聊了, 图个嘴上快活... -newsky(rat); 2008-5-24 (#4465015@0)

有人辞官归故里, 有人漏夜赶考场. 你不信就算了. -toronto321(toronto321); 2008-5-24 (#4465021@0)
政府里的做 I.T. project lead 并不难，有文凭，技术好点再加点资历就行。 -bylogic(混吧); 2008-5-24 {16} (#4465109@0)
关键是能进的去。

混吧, 关键是怎麽能混进去... -axe(Just A Joke); 2008-5-24 (#4465124@0)

哈哈 -bylogic(混吧); 2008-5-24 (#4465133@0)

是不是网管在兴风做浪 -chemist(raymond); 2008-5-25 (#4466249@0)

多伦多，投行，那就是在Eaton Center 34层了 -rabbitcq(人在旅途); 2008-5-25 (#4466229@0)

ML seems stoping the hiring right now.... -moonroger(moonroger); 2008-5-25 (#4466267@0)

信口开河吧！我星期五才接到ML的Recruitor的伊妹儿，要找.NET Developer. 我因为刚换了工作，不想马上换。 -avanade(BADWolf); 2008-5-25 (#4466296@0)

我们是外行，说点外行话，CIBC这类银行也是咎由自取，一门心思想快钱，当年SCOTIA在南美搞冒险，好像赔了120亿吧，这次轮到CIBC了，你看人家TD，业务服务从来不放松，老实干活的，总是有回报的，CIBC这类乱混的，迟早要还的。 -canadacanada(我来学习学习); 2008-5-24 (#4465112@0)

嘿嘿，你看他起高楼，你看他楼垮了。只是那一江不尽春水滚滚向东流。 -wanglaowu(一点正经没有废话一堆); 2008-5-24 (#4465118@0)

"一点正经没有, 废话一堆", "一点正经, 没有废话一堆", " 一点正经没有废话, 一堆", "一点, 正经, 没有废话一堆"? -axe(Just A Joke); 2008-5-24 (#4465120@0)

你真是个断句专家。：-） -nicetomeetyou(漫步悖论世界); 2008-5-28 (#4471444@0)

Not sure but I try. Like your blog. -axe(Just A Joke); 2008-5-28 (#4471518@0)

就使劲的冒吧！我看你的文笔去写幻想小说或去编电视剧到很合适！也许干这个可比你干投行发财更快。 -legend99(legend99); 2008-5-24 (#4465218@0)

Interesting. Life is full of unexpected joys and of course woes. Perhaps it should only have joys to some people. -axe(Just A Joke); 2008-5-24 (#4465232@0)
Good Idea... My next book will be "I am legend" -zuluking(Pursuit of Happyness); 2008-5-25 (#4465838@0)

CIBC, no suprise. They can use one monoline insurer, ACA, for their 2 billions positions, of course layoffs came as no suprise when the things "didn't go well". Don't worry. CIBC will keep hiring, and keep firing. This is CIBC. -mteverest(Everest); 2008-5-26 (#4467732@0)
patpat. 回国吧。形势大好。 -little5(没事小心，有事大胆); 2008-5-27 (#4468429@0)

小5哥，这个星期在toronto? 香港还好？ -zuluking(Pursuit of Happyness); 2008-5-27 (#4468651@0)

LZ是个人才，裁员都能裁得这么轰轰烈烈，回肠荡气。 -rabbitcq(人在旅途); 2008-5-28 (#4471373@0)

@Ontario

Actually, my opinion is not that important. Carney from central banker's pespective is looking after macro-prudence. Bank is in the market to make money.

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