Ten years after the financial crisis that led America into the deepest recession in 80 years, Wall Street jobs are doing just fine, according to a top New York state official. The average 2017 salary in New York's securities industry reached its highest level since 2008, said New York State Comptroller Thomas DiNapoli. That figure reached $422,500 last year, including bonuses, DiNapoli said. Excluding bonuses, it was $403,100. Both marks are the highest since 2008. "Wall Street has profited every year since the end of the recession in 2009, and compensation last year reached its highest point since the financial crisis," DiNapoli said in a press release. The top pay in the state isn't found on Wall Street, however. That honor goes to hedge-fund-heavy Suffolk County, which takes up the eastern half of Long Island and where the average securities job has a salary of just under $600,000. That's an income enjoyed by fewer than 1 in 100 American households, according to IRS … [Read more...] about Average Wall Street pay hits post-recession high of $422K
Wall street
‘Who Broke The Law?’ Cohn Says, Defending Wall Street’s Role In Crisis
Sep 18, 1:55 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury National By Reuters 09/18/18 AT 1:04 AM Gary Cohn, the former economic adviser to President Donald Trump, gave a ringing endorsement of Wall Street bankers on Monday, arguing that borrowers were just as responsible for the 2007-2009 financial crisis as lenders and ridiculing rules intended to make the system stronger in its aftermath.In a wide-ranging conversation at an event hosted by Reuters Breakingviews that was pegged to the 10-year anniversary of Lehman Brothers' collapse, Cohn's comments mostly tracked the sentiment of Wall Street bankers and other wealthy Americans who have felt unfairly maligned for the mortgage market’s collapse and the economic downturn that ensued.He also praised JPMorgan Chase & Co's Chief Executive Jamie Dimon, who last week made waves by saying that he could beat Trump in an election. Calling Dimon a "phenomenal" choice, … [Read more...] about ‘Who Broke The Law?’ Cohn Says, Defending Wall Street’s Role In Crisis
‘Who broke the law?’ Cohn says in defending Wall Street’s role in…
NEW YORK (Reuters) - Gary Cohn, the former economic adviser to U.S. President Donald Trump, gave a ringing endorsement of Wall Street bankers on Monday, arguing that borrowers were just as responsible for the 2007-2009 financial crisis as lenders and ridiculing rules intended to make the system stronger in its aftermath. FILE PHOTO: Director of the National Economic Council Gary Cohn arrives before a joint news conference of U.S. President Donald Trump and Spanish Prime Minister Mariano Rajoy at the White House in Washington, U.S., September 26, 2017. REUTERS/Joshua Roberts In a wide-ranging conversation at an event hosted by Reuters Breakingviews that was pegged to the 10-year anniversary of Lehman Brothers’ collapse, Cohn’s comments mostly tracked the sentiment of Wall Street bankers and other wealthy Americans who have felt unfairly maligned for the mortgage market’s collapse and the economic downturn that ensued. Once the No. 2 executive at Goldman … [Read more...] about ‘Who broke the law?’ Cohn says in defending Wall Street’s role in…
Trump to impose tariffs on $200 billion in Chinese goods, Wall Street Journal reports
President Donald Trump is planning to impose a fresh round of tariffs targeting about $200 billion in Chinese goods, The Wall Street Journal reported Saturday, citing individuals familiar with the matter.The timing of the announcement is fluid, two people familiar with the plans told CNN on Saturday.According to the Journal, the tariffs are expected to be set at around 10 percent, according to people familiar with the matter, a lower level than the possibility of 25 percent tariffs previously floated by the administration.The move aims to increase pressure on Beijing ahead of planned high-level discussions and is intended to provide the U.S. leverage in talks over China's alleged practice of demanding American companies turn over technology in order to do business in the country, the Journal reported. But any imposition of new tariffs has the potential to further escalate trade tensions between the US and China. CNN has previously reported that the President had been pressing his … [Read more...] about Trump to impose tariffs on $200 billion in Chinese goods, Wall Street Journal reports
Asian shares continue rally after Wall Street gains
Yuri Kageyama, Ap Business Writer Updated 8:32 pm PDT, Thursday, September 13, 2018 FILE- In this Aug. 22, 2018, file photo specialist Anthony Matesic, left, and trader Anthony Carannante work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Thursday, Sept. 13. less FILE- In this Aug. 22, 2018, file photo specialist Anthony Matesic, left, and trader Anthony Carannante work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on ... more Photo: Richard Drew, AP Photo: Richard Drew, AP Image 1 of / 1 Caption Close Image 1 of 1 FILE- In this Aug. 22, 2018, file photo specialist Anthony Matesic, left, and trader Anthony Carannante work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Thursday, … [Read more...] about Asian shares continue rally after Wall Street gains