Held at cocktail bar Le Carmen, which was once the home of composer Bizet and is named after his famous opera, the concept of Book Club is simple: bring a favourite book to swap.

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For example, if a trader takes 10% of his book for a ten-year swap, then 5% of his previous year's bonus is used for the same position.

ECONOMIST: Letters

What he wanted was to push a little button that would swap the words in the book he held for the words in some other book somewhere else.

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