The Fed and President Obama got the headlines they wanted. The NYT wrote Friday that the Fed will propose "," while the WSJ said that "." The rules could mean a change in the mechanics of financial compensation, and thus for Read More
Tag: Wall Street
The Federal Reserve is to regulate compensation by the nation's largest banks -- including, inevitably, some big New York firms now raking in big profits thanks to government bailouts. The upshot for Governor Paterson and state lawmakers in Albany Read More
Attention New York: on the eve (roughly) of the one-year anniversary of Lehman Brothers' collapse, a new report from J.P.Morgan in London opines that because of the effects of eight likely financial-regulatory changes worldwide, "what is certain ... Read More
In a , the Washington Post reports that "the biggest" of the nation's too-big-to-fail "banks are even bigger" today, with three big banks alone owning more than 30 percent of the nation's deposits, and four big banks issuing "one of every t Read More
The chairman of Britain's Financial Services Authority (similar to our SEC), Lord Turner, yesterday floated the idea of a global tax on financial transactions to shrink "a swollen financial sector," the FT . Turner admits that "the probl Read More
"New York recently paid almost $50 million to private stock managers to actively invest part of the state's massive public pension fund, and they lost more than $1 billion, a worse performance than stocks that were essen Read More
"Goldman Sachs CEO Lloyd Blankfein has warned his employees to avoid making big-ticket, high-profile purchases as the gold-plated Wall Street firm hunkers down amid a firestorm of public and political anger over outsize bonus payments," today's N Read More
E.J. testified before Albany's Joint Legislative Fiscal Committees today. One tidbit illustrates the Empire State's acute dependence on Wall Street: Just how dependent on Wall Street had we become? Consider this: in 2006, auto manufact Read More
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