Banking
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Fiscal cliff was a boon to StreetBonuses on the Street last year totaled $20 billion, an 8% increase from the previous year
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Thanks to fiscal cliff, Wall Street pay higher in '12Rising stock market, low rates kept funding costs for banks down, boosting bonuses.
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Banks face 'massive' damages from states' Libor probe
A multistate probe of alleged manipulation of interest rates threatens to leave banks liable for billions of dollars in estimated state and local losses, even as they settle with national regulators. New York Attorney General Eric Schneiderman is helping to lead an inquiry into claims that banks
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Banks may sue feds over the Volcker ruleWith Washington bureaucrats devising all sorts of ways to regulate Wall Street, it is no wonder that there are so many grumpy people at the industry's chief trade group, the Securities Industry and Financial Markets Association.
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More bad news for savers where unemployment is high
In the category of more proof that life is not fair, it turns out that bank deposit interest rates are closely tied to state-level unemployment rates. While yields on deposits are low and trending lower all over the country, depositors in states where unemployment is lower have been enjoying higher
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Why does the SEC protect banks' dirty secrets?Remember Richard Bowen? He is the former senior executive at Citigroup Inc. who in November 2007 issued a clarion call to his colleagues and Citi's board that a major credit quality problem loomed for the bank. Mr. Bowen was the chief underwriter in the business unit that bought from third parties
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UBS accelerates restructuring plan as U.S. wealth management shinesUBS AG's plan to shrink its investment banking operations and focus on wealth management was kicked into high gear by executive leadership last week.
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NYSE's contingency planning under fire after Sandy - InvestmentNewsNYSE Euronext is taking plenty of heat for not being able to implement its backup plan in the face of Hurricane Sandy.
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Time to end regulatory dillydallying - InvestmentNewsUncertainty about the future weight of regulations making their way through the bureaucratic maze in Washington is harming the banks, their clients in corporate America and economic growth.
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Smith Barney write-down helped seal Pandit's ouster: SourceA source claims Vikram Pandit was ousted as Citigroup CEO due to a series of missteps, not one incident. The last straw? The sizeable accounting hit the bank took from the plummeting valuation of Smith Barney.
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Pawlenty now feeding at Wall Street 'trough' he once bashedFormer Presidential candidate taking over as CEO of financial services lobbying group
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Wall Street bonuses hit the skidsWall Street bonuses for 2012 will be less than earlier estimates as Europe's sovereign-debt crisis and stagnating economic growth weighed on results, according to compensation consultant Johnson Associates Inc.
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Citigroup sees significant charge after brokerage valuationMorgan Stanley's estimate of the fair-market value of the Morgan Stanley Smith Barney unit is about 40% of what Citigroup believes the brokerage is worth, according to a regulatory filing
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How will Libor scandal affect wirehouse advisers?The unfolding investigations into manipulation of the LIBOR interest rate could be the next ugly story that wirehouse advisers will have to explain to clients.
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Crackdown on exotic ETFs moves forward
Efforts to keep nontraditional ETFs out of the hands of unsophisticated investors are heating up as regulators and an influential senator take aim at sales of the risky products.
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