Wednesday, October 01, 2008

Bonuses are gone, Cristal is corked - Globe and Mail

LONDON — Until a few days ago, when people talked about London's bankers, they always mentioned a little place in Soho called Movida, where one night an investment banker spent £26,000 ($49,300) buying his half-dozen friends a few dozen bottles of fine champagne, which he simply sprayed all over the room like a Formula 1 victor. He then happily picked up the £15,000 cleaning tab.

This week, with the British financial industry in crisis as a second major bank was taken over by the government, Movida's doors were closed. Manager Alex Wilson said in an interview at the bar that he hopes to reopen it with an eye to a different clientele.

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