Wall Street

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Bear Market Slashes Wall Street Bonuses
 Wall Street Pay Down Big-Time 
Jan 9, 2012 4:55 AM CST

Wall Street Pay Down Big-Time

Total compensation shaping up to be lowest since 2008, experts say

(Newser) - The 1% never had it so rough—well, at least not since the economic crisis was at its worst. Thanks to a terrible year for the stock markets, Wall Street pay is down big-time. The Wall Street Journal reviewed 34 publicly traded financial firms and calculated their total compensation to...

Time to Make Wall Street Pay

 Time to Make Wall Street Pay 
Michael Thomas
Dec 26, 2011 11:47 AM CST

Time to Make Wall Street Pay

Michael Thomas thinks Wall Street has destroyed America

(Newser) - At 75, novelist Michael Thomas has seen much. “If anyone asks me what has been the great American story of my lifetime, I have a ready answer,” he writes in Newsweek : “It is the corruption, money-based, that has settled like some all-enveloping excremental mist on the landscape...

Don't Expect Wall St. Reform From 2012 Field

Obama, GOP hopefuls all cozy with banks: Joel Kotkin

(Newser) - Wall Street doesn’t have much to worry about in 2012: President Obama, Newt Gingrich, and Mitt Romney all have the big banks’ backs. Obama “may call them ‘fat cat’ bankers, but he's been something of a kitten when dealing with financiers: There have been fewer prosecutions...

Stocks Jump 400+ on Trio of Good News
 Stocks Jump 400+ 
 on Trio of Good News 
MARKETS
Nov 30, 2011 8:59 AM CST

Stocks Jump 400+ on Trio of Good News

Central banks and China make moves, private-sector employment jumps

(Newser) - The market took a major jump at open on the announcement that six central banks were moving to make it easier for European banks to get dollars, with the Dow rising 322 points to 11,877, reports the Wall Street Journal . As of 9:55am, it was up 405 points....

Wall Street Bonuses to Plunge
 Wall Street Bonuses to Plummet 
Nov 29, 2011 3:05 AM CST

Wall Street Bonuses to Plummet

Falling revenues behind expected 40% plunge

(Newser) - The latest news from Wall Street is likely to leave most ordinary Americans dry-eyed. Year-end bonuses for bankers and traders are expected to be down sharply this year, plunging up to 40% to their lowest level since the financial crisis, according to a closely watched industry forecast. A bond trader...

Mario Batali Pisses Off Wall Street

Perhaps not the best idea, considering bankers give him a lot of business

(Newser) - Wall Street bankers may be a little reluctant to shell out $145 for Mario Batali’s seven-course "tradizionale" dinners after they hear he compared them to, say, the architect of the Holocaust. “The way the bankers have kind of toppled the way money is distributed and taken most...

Spooked by Italy, Dow Falls 228
 Spooked by Italy, Dow Falls 228 
MARKETS
Nov 9, 2011 8:56 AM CST

Spooked by Italy, Dow Falls 228

Dow below 12K

(Newser) - Silvio Berlusconi's promises to resign haven't done much to calm European markets —or Wall Street. The Dow opened sharply lower today on the news that Italian bond yields spiked above 7%, the level that caused Greece, Portugal, and Ireland to seek bailouts; Italy's debt, however, is...

Why Wall Street Banks and Firms Are Profitable Under Obama
 Why Wall Street Is 
 Richer Than Ever 
wapo analysis
Nov 6, 2011 4:47 PM CST

Why Wall Street Is Richer Than Ever

Firms are more profitable under Obama than Bush: 'Washington Post'

(Newser) - President Obama is trying to harness public rage against Wall Street while bankers are whining about new financial regulations—but the inconvenient truth for both sides is that Wall Street has profited big-time during Obama's presidency. In fact banks are larger today than when Obama won the White House,...

Top Colleges Steer Grads Away from Wall Street

Students, staff encourage grads to expand horizons

(Newser) - For many seniors at elite US universities, Wall Street provides a straightforward path to a job—particularly since big banks often dominate campus recruiting. But recently, fellow students and staff alike have urged graduating classes to consider a wider array of options, the Los Angeles Times reports. A nationwide campaign...

MF Global Ignored Warnings, Couldn't Match Shoes

Jon Corzine thought regulators' warnings were wrong

(Newser) - Those interested in the bankruptcy of MF Global—the biggest Wall Street collapse since Lehman—will be fascinated and maybe a little depressed to read the New York Times ' look at what went wrong. The big takeaway is that the brokerage company run by Jon Corzine ignored regulators' warnings...

Man Busted in 2 Sex Assaults at Wall Street Camp

Teens assaulted in tents: police

(Newser) - A Brooklyn man has been arrested for two sex assaults on teenagers at the Occupy Wall Street camp in Zuccotti Park. One of the victims, 18, reported to police she was raped in a tent in the camp; a 17-year-old protester said she was groped in her tent. Tony Iketubosin,...

Dow Down 253 Thanks to Greece
 Dow Down 253 
 Thanks to Greece 
MARKETS
Nov 1, 2011 8:51 AM CDT

Dow Down 253 Thanks to Greece

Greek call for referendum doesn't sit well with investors

(Newser) - More not-so-shocking news , though today's variety is a bit more serious and depressing: The Dow sank 253 points at the open, to 11,702, as Greek PM George Papandreou's call for a referendum on his country's bailout terrified European investors and rattled traders stateside. MarketWatch reports that...

Jon Corzine's Company Missing $700M

Feds probe MF Global after today's bankruptcy

(Newser) - A financial firm headed by former New Jersey Governor Jon Corzine is missing about $700 million, federal investigators say. MF Global, which filed for bankruptcy today , was trying to sell part of itself to a brokerage firm when the shortfall was discovered. Regulators will likely pounce if MF Global used...

Obama Has More Wall St. Cash Than GOP Candidates

Obama, DNC pulling in more cash ... even from firm Romney founded

(Newser) - Despite his moves to tighten regulation of the financial sector, President Obama has more Wall Street money in his war chest than all of the Republican hopefuls combined, the Washington Post finds. Obama's campaign has received $3.9 million in donations from employees of financial firms, compared with $7....

Why President Obama Can't Win on Wall Street: Annie Lowrey
 Why Obama 
 Can't Win on 
 Wall Street 
OPINION
Oct 17, 2011 12:14 PM CDT

Why Obama Can't Win on Wall Street

Incumbent gets blamed for current woes: Annie Lowrey

(Newser) - Here's a president who bailed out the big banks, protected their pay, and helped hold them together—yet "Wall Street hates Barack Obama," writes Annie Lowrey at Slate . Why? It's simple: "Wall Street is doing terribly," and in a bad economy, "everybody blames...

Politicians Should Swear Off Wall Street Cash
Politicians Should Swear Off Wall Street Cash
OPINION
Oct 12, 2011 12:33 PM CDT

Politicians Should Swear Off Wall Street Cash

Harold Meyerson says going clean could be deceptively brilliant

(Newser) - Washington is too dysfunctional to pass any laws in response to Occupy Wall Street, but if Democrats want to stand with the protesters, Harold Meyerson has a modest proposal: Refuse all campaign contributions “from the whole financial sector,” he suggests in the Washington Post . “Sign a pledge...

Wall Street Will Lose 10K Jobs
 Wall Street Will Lose 10K Jobs 
SAYS REPORT
Oct 11, 2011 11:25 AM CDT

Wall Street Will Lose 10K Jobs

New York comptroller predicts blow to economy

(Newser) - It looks like a lot of Wall Street denizens will be joining the ranks of the unemployed soon, New York’s state comptroller warns in a report released today, predicting that the securities industry will shed nearly 10,000 jobs by the end of 2012. The industry has already cut...

Mitt Romney: Occupy Wall Street Is Class Warfare


 Romney Calls 
 Occupy Wall Street 
 'Class Warfare' 
'OCCUPY' ROUNDUP
Oct 5, 2011 9:08 AM CDT

Romney Calls Occupy Wall Street 'Class Warfare'

And other tales from the front...

(Newser) - Occupy Wall Street protesters are unlikely to find a friend in Mitt Romney. While speaking to a retirement community in Florida last night, the presidential candidate responded to a question about the anti-Wall Street protests with a brief but decidedly unsupportive comment, as reported by the National Journal : "I...

Anonymous Threatens to 'Erase' NY Stock Exchange

But threat is a hoax, separate Anonymous faction claims

(Newser) - Is Anonymous planning an attack on the New York Stock Exchange? A video supposedly from the hacking collective threatens to "erase" the NYSE next Monday, CNBC reports. "NYSE shall be erased from the Internet. On October 10, expect a day that will never, ever be forgotten," warns...

Marines Head to Wall Street—to Protect Protesters

Veteran issues call to pals to shield demonstrators

(Newser) - NYPD cops better watch it when they get tough with Occupy Wall Street protesters from now on, because the Marines are coming—to help protect the demonstrators. "I'm heading up there tonight in my dress blues," announced a Marine veteran in a message reposted by another anti-war...

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