Pittsburgh Tribune Review – On Oct. 5, philanthropist and hedge fund billionaire Stanley Druckenmiller sat in his New York den, watching the Steelers play in Jacksonville.

Two weeks before, he yanked an offer worth more than $800 million to buy the fabled Pittsburgh franchise, and now the quarterback of his beloved Black and Gold was scrambling to escape the clutches of the Jaguars, en route to a narrow 26-21 victory in Florida.

But during every commercial, Druckenmiller scrambled to a nearby room, where computer screens tracked the daytime tumult of Asia’s financial markets — Tokyo’s Nikkei 225 average crashing more than 11 percent, Hong Kong’s Hang Seng index tanking, the Bombay Sensex plummeting.

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Here Is The City – Bloomberg reports that CEOs at Wall Street’s top five securities house earned a staggering $3bn between them from 2003 and 2007, during the time when the subprime and toxic securities timebomb was ticking away in the background. Goldman Sachs CEOs were paid the most in this period ($859m), followed by Bear Stearns ($609m).

And talking of Wall Street finest, former Merrill Lynch CEO Stan O’Neal (who bagged $172m in pay between 2003 – 2007), is said to be thinking of making a comeback. According to The Financial Times, O’Neal is considering joining Vision Capital Advisors, a small hedge fund and private equity firm.

Bloomberg also reports that JPMorgan Chase has acquired Washington Mutual’s branch network for $1.9bn, as the thrift was seized in what has been described as the largest bank failure in US history. JPMorgan will not acquire any of WaMu’s liabilities. CEO Jamie Dimon said: ‘This is a fabulous franchise. We think we got this at a price that protects us’.

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