With volatilty at record lows and fixed income revenue dropping across Wall Street, bank executives say there may be some light at the end of the tunnel.
The Treasury Department will “make a decision in the very near future” on adminstrative action to “to make these deals less economically appealing.”
But they don’t like them that much, either.
Cantor’s new job at Moelis and the rise of the boutiques.
The history of SACO 2006-8, as told through court documents dating back more than six years, provides a view into how the mortgage-backed security industry was built up and spectacularly collapsed. For JPMorgan, it has become the mortgage-backed security from hell.
King.com’s daily active user count actually fell compared to the last quarter, and the company is now more in need of a hit than ever.
The Federal Reserve and FDIC said today that plans submitted by large banks showing how they could be dismantled in the case of failure were “unrealistic.”
A new study by the Government Accountability Office said that large banks were able to borrow money for less during the financial crisis because investors thought the government would support them, but that the funding advantage “may have declined or reversed.”
Ace Greenberg’s thrifty and magical career, down to the cheap casket. “Ride winners, take losses.”
The giant bank points to the huge scope of its business as a defense against a pay discrimination suit. Goldman lawyers said there was no evidence of a company-wide policy that disadvantaged women in pay and promotion
Yet another ding for big banks from regulators and law enforcement for their off-exchange trading venues.
The New Yorker is open for business.
But besides a big one-off benefit, the quarter was similar to its peers, with declines in fixed income and equity trading revenues and an increase in wealth management and investment banking revenues.
But the bank’s core trading and sales business still shrank in revenue, fulfilling a warning made by the firm in May.
Despite declines in revenues from mortgages and trading, the largest bank in the country beat out analysts’ expectations with $6 billion in profits. In his first public comments since being diagnosed with throat cancer, CEO Jamie Dimon said he was “feeling great.”
The bank’s profits were up 56% from a year ago. It is the only bank so far this quarter to report higher fixed income, commodities, and currencies trading revenue.
A graph on the Bloomberg terminal shows the number of pets lost, injured, or killed each month on U.S. airlines.
“I’m gonna make as much money as I can, and spend it on money.”
“About four percent” of applicants who want to be analysts at Goldman Sachs got the job in 2013.
Wall Street’s chief enforcement agent, Preet Bharara, said in a speech before the Security Industry and Financial Markets Association (SIFMA) that it won’t be too long before “a significant financial institution will be charged with a felony or be made to plead guilty to a felony.” Bharara has been a leading advocate for holding institutions themselves, and not just people, accountable for crimes and has aggressively been going after financial firms and white-collar criminals in particular.
“If you don’t hold them accountable, it’s Groundhog Day, you’re going to get a big settlement and they’re going to do it again in a couple years,” Ben Lawsky told BuzzFeed.
Why hedge-fund millionaire Sam Polk finally decided to call it quits.
The vesting of deferred stock paid out to bankers five years ago helped swell Wall Street’s bonus pool to $26.7 billion, the highest since 2007. The average bonus grew 15% to $164,530 in 2013.
Seamless is your only true friend.
A million dollars isn’t cool.
Peter Tuchman has been on the floor of the New York Stock Exchange for almost 30 years. He’s seen it all, and if you’ve read a Wall Street-related story over that time, you’ve probably seen him.
This quarter last year, they lost money on just two days. All of last year, it was just 14. Ouch.
Facebook’s stock rose 15% just after the report came out, but it gave back most of those gains during the earnings call. Still, it’s the second quarter in which Facebook has delivered a blowout report, and the stock has more than doubled in the past year.
Plus kids in the most adorable Breaking Bad costumes, a baby delivered by a McDonald’s staff, and 10 urban legends about movies explained.