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Meredith Whitney Has Some Advice For Laid Off Wall Streeters
On Bloomberg TV this morning Meredith Whitney put it as bluntly as it gets — laid off Wall Streeters need to lower their expectations and take a pay cut. It's that simple. Obviously this isn't what...
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The Paragraph In Deutsche Bank's Layoff Statement That Should Scare All Of...
This morning Deutsche Bank announced that it would lay off 1,900 people — 1,500 of whom would be in the investment banking sector (read the release here). They put out a press release to explain these...
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MEREDITH WHITNEY: How She Became The Bearer Of Wall Street's Worst News
Everyone is talking about bank analyst Meredith Whitney today, as once again it seems like her predictions are coming true. Just as she was on Bloomberg TV this morning saying that there would be...
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A Perfect Example Of Why Meredith Whitney Says Wall Street Shareholders Will...
This morning Deutsche Bank announced that it would lay off 1,900 employees — 1,500 in investment banking — after a dismal earnings report. Overall, earnings slumped 46%, and it's got to be feeling...
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Wall Street Strategist Has Only Met One Person Who Thinks Romney Is Going To Win
This is a really interesting paragraph from Dan Greenhause, the top strategist at brokerage firm BTIG. It's from his Bedtime With BTIG note sent last night... Unsurprisingly, this was another bland...
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BlackRock's Bob Doll Is The Latest To Call For Layoffs: We Don't Need As Many...
Everyone is talking about the looming layoffs across Wall Street. Yesterday Deutsche Bank announced that it's laying off 1,900 employees with 1,500 hundred of those coming from its investment banking...
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This Is The Question Day Traders Are Asking Themselves In The Aftermath Of...
Everyone's talking about the technology issue at Knight Capital that had the market trading violently this morning and affected moves in 148 stocks. Think about it: Light speed trades with substantial...
View ArticleNeil Barofsky Gave Us The Best Explanation For Washington's Dysfunction We've...
Neil Barofsky was the Inspector General for TARP, and just wrote a book about his time in D.C. called Bailout: An Insider Account of How Washington Abandoned Main Street While Rescuing Wall Street....
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Matt Taibbi Finally Commented On Sandy Weill's About Face On Wall Street —...
Last week, Sandy Weill, the former Citigroup head and godfather of the supermarket bank concept, recanted his life's work on CNBC. Sort of. And this week, after giving the whole thing a lot of thought...
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The CEO Of Knight Capital Was Just On Bloomberg TV
Yesterday, a trading glitch in Knight Capital's computer systems affected 150 stocks and resulted in massive losses for the firm. Right now, the losses are estimated at $440 million and the company's...
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The 'Bros' At Lehman Brothers: Where Are They Now?
Management at Lehman Brothers was known for their extreme devotion to the firm. Bankers even missed the birth of their children because of their Lehman priorities. But when Lehman filed for...
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Remember What Happened Last Time Knight Capital Accidentally Caused Some...
The latest trading mistake from Knight Capital brings to mind the last time the company caused total anarchy on Wall Street. You might remember that last year, on March 31st, 15 new FocusShares ETFs...
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ROBOTS GONE ROGUE: 10 Technical SNAFUS That Have Wreaked Havoc With The Markets
High frequency trading might be making money faster than humanly possible, but it's not perfect. After yesterday's Knight Capital high-frequency trading disaster, the future of the algorithm based...
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The Most Obnoxious Bars On Wall Street
New York is a big, bad city with tons of options for entertainment. And when there's plenty of choice, that means many of those choices can be... obnoxious. Wall Street bars are no exception to this...
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Tracking The Starburst Eating Analyst
Yesterday, Dealbreaker's Bess Levin broke the crucial story of a young, hopeful Wall Street analyst and his quest to eat 500 Starbursts in 12 hours. We scoffed at him, but after much thought, and some...
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Finally, We Know What Happened To The Starburst Eating Analyst
For the past day or so here at at Clusterstock we've been concerned. Obviously there's Knight Capital. And Europe, you can't forget that. But another thing occupying our minds has been a young analyst...
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13 Awesome Insights From Wall Street's Sharpest Minds
Markets had a lot of data to digest this week as global manufacturing figures and July's Non Farm Payrolls report hit. Monetary policy meetings by both the European Central Bank and Federal Reserve...
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A Hilarious 15 Year History Of Wall Street
It's been a rough summer on Wall Street — the LIBOR scandal, JP Morgan's trading loss, Knight Capital's trading error... Must we go on? But it's important to put all that in perspective. Compared to...
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There's A New Global Banking Pariah
Bergen, Norway I was sitting across from an impossibly blonde account executive this afternoon when I heard three words I never thought I’d hear at a foreign bank. “Are you Greek,” she asked me with a...
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No One Wants To Stop The Con Game Of Writing Up Assets
Normally we see the gory details only after a firm collapses, like Enron or Lehman, when vultures tear open its guts to fight over shriveled assets that had appeared fat and healthy on paper, and some...
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