Wall Street – News Stories About Wall Street - Page 9

Apr 30, 2012 7:51 AM CDT

Wall Street to Slash 21K Jobs

Downsizing binge will rival that of financial crisis

(Newser) - Wall Street's job creators aren't exactly living up to that billing. The market is soaring, and so are bank profits, but financial firms are preparing for a massive round of layoffs, analysts tell Fortune , estimating that the banks will cut nearly 21,000 jobs. That would be a...

Obama Just Legalized Fraud

Matt Taibbi

Apr 10, 2012 9:12 AM CDT

Obama Just Legalized Fraud

Matt Taibbi on why the JOBS Act 'couldn't suck worse'

(Newser) - Did you enjoy the dot-com bubble? Well, expect a replay on an even bigger scale, because last week President Obama signed a bill that, according to Matt Taibbi of Rolling Stone , "will very nearly legalize fraud in the stock market." The JOBS Act is ostensibly designed to make...

Bank of America Is
a Crime Syndicate

Matt Taibbi

Mar 14, 2012 1:55 PM CDT

Bank of America Is a Crime Syndicate

Matt Taibbi: It's 'ripping off virtually everyone'

(Newser) - Matt Taibbi gives Bank of America the " vampires squid " treatment today, savaging "the ultimate Too Big to Fail bank" as "a hypergluttonous ward of the state whose limitless criminal conspiracies we'll all be paying for until the end of time," in a lengthy Rolling ...

Inside Bankers' 'Malaise'
Over Slashed Bonuses

Inside Bankers' 'Malaise' Over Slashed Bonuses

Wall Street workers finding it difficult to get by, or so they say

(Newser) - Wall Street bankers received smaller bonuses this month, and it is really hard for them. If you're having trouble dredging up any sympathy, perhaps that's because you just don't understand what it's like to be in the 1%: "People who don’t have money don’...

'Gordon Gekko'
Working for FBI

Feb 28, 2012 1:52 AM CST

'Gordon Gekko' Working for FBI

Michael Douglas tapes public service ad on Wall Street evils

(Newser) - The "greed is good" money man who everyone loved to hate in the movie Wall Street has turned a new leaf. He's now working for the FBI, reports MSNBC . "Gordon Gekko," aka Michael Douglas, is doing a public service announcement for the FBI cautioning consumers to...

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

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

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

OPINION

Jan 19, 2012 2:15 PM CST

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

Jan 11, 2012 12:37 PM CST

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...

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

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

OPINION

Dec 5, 2011 12:03 PM CST

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

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 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

Nov 10, 2011 12:14 PM CST

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

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 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

Nov 4, 2011 2:44 PM CDT

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

Nov 3, 2011 12:41 PM CDT

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...