Morning Coffee: The bank with the best severance payments, the bank with the worst. Intense questions about Jane Street

A report highlights significant disparities in severance payments for "material risk takers" at major European banks, with SocGen offering the highest average at $1 million and UBS the lowest at $263,000. The article also raises questions about the proprietary trading firm Jane Street's business model, including its capital structure, leverage, and potential for financial contagion through liquidity risk, questioning if it has shifted from market making to more dangerous directional bets.