Morgan Stanley laid off a number of senior investment bankers last week and cut bonuses by roughly 15 percent because of a decline in revenue from dealmaking and capital raising across Wall Street, people with knowledge of the matter told Reuters.
…Read on, and you will see a disturbing pattern.
NEW YORK — JPMorgan Chase & Co has become the first bank to settle an antitrust lawsuit in which investors accused 12 major banks of rigging prices in the $5 trillion-a-day foreign exchange market.
The settlement with the largest U.S. bank was disclosed today in a letter from lawyers for JPMorgan and the plaintiffs and filed in U.S. District Court in Manhattan.
Terms were not disclosed.
A settlement agreement is expected to be filed with the court by the end of January.
A Goldman Sachs subsidiary allegedly shuffled aluminium stocks around its warehouses each day, lengthening storage times and bloating rental costs, which pushed up the metal’s market price and produced bigger profits.
Last week, Chancellor George Osborne said Britain is not ‘immune’ to a global economic slowdown while David Cameron said red warning lights’ were ‘flashing on the dashboard of the global economy’.
STOP Feeding The Beast.
Boycotts, Buycotts, Food gardens, Community Farms, Community Currencies, are some the things we can do…
“The primary audience for the Jackson Hole economic symposium has always been central bankers,” said Diane Raley, a spokeswoman for the Kansas City Fed, who didn’t comment specifically on this year’s guest list.
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