Observer: German joke | FT

As Germany's Commerzbank slashes jobs, wacky whispers and gallows humour continue to emanate from its offices.

On Wednesday, Observer brought news of a banker who, having learnt most of the news about his future through leaks to the press, dubbed it Colander Bank. Now a colleague, reminding us it's also known as Comedy Bank, recounts internal confusion over the winding down of trading positions. One team was apparently sent home, then brought back to sort out the mess.

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Commerzbank axed its ten-strong proprietary trading desk in London this week, only to call the traders back to ensure that their positions could be correctly closed | The Times

Six of Commerzbank's most senior bankers in London left Thursday at the start of what is expected to be a mass exodus following plans by the German bank to halve the size of its securities operation in the City of London. | The Guardian