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Busted Ex-Bank Exec Now Done Over Ecstasy

Talk about kicking a man when he's down. 42 year-old Ian Chalmers, variously described as a former head of sales and / or trading over at Macquarie Bank in Australia, has been banged up for months awaiting sentencing after being found guilty last year of conspiring to import cocaine with the help of baggage handlers at Sydney Airport in 2005, has now pleaded guilty to an unrelated charge of supplying ecstasy. The offense is said to have come to light when investigators were intercepting Chalmers' phone calls.

BofA, Commerzbank / Dresdner Kleinwort, Lehman, Macquarie, Nomura, UBS

The Wall Street Journal reports that Bank of America is said to have offered to repay the US government part of its bailout support, perhaps as much as $20bn of the $45bn it has taken over the last year or so. Repayment of $20bn would mean that the bank would no longer by regarded as an 'exceptional' aid recipient, and it would therefore not have any of its compensation overseen by the US 'pay czar'.