Nothing Good Ever Happens in August
As of Friday's market opening, every investment bank had been hit—and hit hard. Of course, this means that most technologists can throw their 2008 IT budgets into the trash can and start from scratch as banks slash budgets to make up for their loses.
Spending on the Markets in Financial Instruments Directive (Mifid) won't go away, but almost everything else on the balance sheet will need to be re-evaluated. Projects related to electronic trading in fixed income probably can be put off as the
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