Here's a look at what's news in banking and finance after the holiday weekend:
- New details of the Federal Reserve's 2008 bailout of big banks shows that the banks took more money than anyone knew, Bloomberg reports. Bank of America was the second-biggest borrower from the Fed, and Wells Fargo fourth, Bloomberg's data shows.
- A new study shows that Wall Street workers could see a 30 percent decline in their yearly pay, the Wall Street Journal says.
- The New York Times has the tale of how the "Occupy" movement was branded.
- After a particularly dismal week, stocks are set to jump sharply this morning, Reuters reports.
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2 comments:
Here's what you forgot to put about those "big bank bailouts". Those banks not only repaid the loans but did so with hefty interest. The government MADE money on those loans and a lot of it.
When are you going to harp on the auto industry? They received bailouts and have repaid... tell us. Nothing??!!! That's right. Broaden your horizons a bit and look past those big bad banks and get over the image of fat cat bankers - these places employ several hundred thousand people in this country - most are very hard working and are not wealthy.
Enough already. Look to Detroit, taxpaying citizens... How do you like bailing out automakers that have yet to repay their debt?
Govt never loose anything, they keep earning from public..and politicians are getting away all the bullshits..
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