Wall Street Dems are rallying for Kamala Harris — will bankers make the same mistake they made with Obama in ’08?
With the media hyping up the possibility of former dork-turned-cool-brat Kamala Harris becoming president, Wall Street Democrats aren’t wasting any time jumping on the bandwagon to convince the undecided billionaires that Harris is the winner in November’s election. Wall Street executives should support her and they will not regret it. History shows they will regret […]
Central bankers love the ‘childless cat ladies’ JD Vance ridiculed
Andrew Jackson, who appears on the $20 bill, is a misunderstood president. He is known primarily for his mistreatment of Native Americans and the passage of the Indian Removal Act, a reputation that obscures Jackson’s true accomplishments: he took on the central bankers and defeated them. The loan shark is the enemy of the family: […]
Wall Street junior bankers still battling burnout by logging gruesome 100-hour weeks amid Leo Lukenas’ death: survey
A recent survey found that many junior Wall Street bankers are battling burnout after working 100-hour weeks, with some even risking their health or sleeping in the office. Concerns about their grueling work schedules come as debate about the industry’s work culture intensifies following the death of Leo Lucenas, a 35-year-old Bank of America associate […]
Sinaloa Cartel Laundered Money with Help from Chinese Underground Bankers
Federal authorities have found that members of the Sinaloa Cartel used an underground banking network in China to launder more than $50 million in drug proceeds. This week, the U.S. Department of Justice Ten indictments were unsealed. It indicted 24 men on charges of participating in an international conspiracy involving individuals from California, Mexico and […]
Pressure mounts on senior bankers as discontent in junior ranks simmers – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. On message boards such as Wall Street Oasis and Reddit, junior investment bank analysts have been posting complaints about the long hours and the impact they are having on their mental and physical health, and are […]
Wall Street bankers, lawyers losing out on hundreds of millions after Paramount’s scrapped Skydance merger: sources
Shari Redstone’s last-minute decision this week to back out of a planned merger between Paramount and Skydance Media means Wall Street bankers and top law firms are losing out on hundreds of millions of dollars in fees, according to sources close to the negotiations. Redstone, the 70-year-old media heiresses, on Tuesday called off a deal […]
Wall Street banker’s death ignites anger at long workweeks, could prompt walkout
The death of a Bank of America employee last week prompted some bankers to decry a toxic work culture that may have contributed to his death, including reports of complaints about his 100-hour workweeks. , which caused a huge uproar on Wall Street. Leo Lukenas III, a former Green Beret and member of the bank’s […]
Junior bankers say they’ll quit after bonuses fall
This is a tale of two Wall Streets. Hundreds of thousands of junior bankers are taking cuts after this year’s bonuses were cut. But the very top 1% are living well off of the soaring stock market and the soaring price of Bitcoin—meaning that the bonus of losing out on inflation hasn’t affected their wealth. […]
Bank CEOs handed pay raises while junior bankers face stingy bonuses
Bank executives will enjoy pay increases in 2023, while rank-and-file employees were given an extra year of stingy bonuses, according to this week’s earnings report. Nowhere was this more evident than at Standard Chartered, whose chief executive Bill Winters reported a 22% rise in his pay. bloombergHe said, citing the London-based bank’s 2023 earnings report […]
Goldman Sachs shuffles management committee as two bankers exit
Goldman Sachs is restructuring its executive committee in the latest sign of power dynamics within the bank. The Wall Street Journal reported This was disclosed on Friday, citing a person familiar with the matter. Veterans Alison Mass and George Lee have left the bank’s group of key department heads and other executives, sources told Reuters. […]