Wall Street

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Dow Passes 13K Mark
 Dow Passes 13K Mark 
Feb 21, 2012 10:34 AM CST

Dow Passes 13K Mark

Last time it did so: May 20, 2008

(Newser) - Huge milestone today: The Dow crossed the 13,000 mark, the first time since before the 2008 financial crisis that it has done so. The last time it made it above that milestone was on May 20, 2008, four months before Lehman Brothers went under. Behind today's bump: the...

Hey, Wall Street: Shut Up About Bonuses
 Hey, Wall Street: 
 Shut Up About Bonuses 
Matt Taibbi
Feb 9, 2012 1:06 PM CST

Hey, Wall Street: Shut Up About Bonuses

Matt Taibbi says bankers are still overpaid

(Newser) - Matt Taibbi was incredulous when he read a recent New York piece in which Wall Street denizens whined that Dodd-Frank was limiting their bonuses. "I watch what I spend," one banker lamented, "but my girlfriend likes to eat good food," which adds up fast. "Quelle ...

SEC Letting Big Banks Skirt Fraud Penalties
SEC Letting Big Banks
Skirt Fraud Penalties
NYT analysis
Feb 3, 2012 7:13 AM CST

SEC Letting Big Banks Skirt Fraud Penalties

'New York Times' analysis finds 350 instances of banks getting free passes

(Newser) - The Securities and Exchange Commission has repeatedly allowed Wall Street's biggest banks to avoid penalties specifically intended to punish and deter fraud, a New York Times analysis of SEC records reveals. Over the past decade, the SEC has on almost 350 occasions granted waivers exempting big financial companies from...

Romney Should Be Proud of Bain Work

Bain and companies like it saved America: Daniel Henninger

(Newser) - Mitt Romney shouldn't distance himself from his work at Bain Capital during the 1980s, writes Daniel Henninger at the Wall Street Journal . In fact, he should embrace it, because Bain and companies like it rescued the country. Forget the caricatures of 1980s Wall Street as the decade of greed....

Lehman Lives on— and It's Getting Bigger

Financial giants refuse to die, Steven Davidoff explains

(Newser) - You might remember Lehman Brothers from its starring role in kicking off 2008's financial crisis by declaring bankruptcy, and hence, you might think it is dead and buried. But you'd be wrong, writes Steven Davidoff in the New York Times : Lehman is actually still shambling around, zombie-like, and...

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...

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