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Wall Street on Track for Second-Most Profitable Year Ever
Posted: Dec 13, 2010
I'm so confused. I thought Obama was a socialist/communist who intended to destroy capitalism. Turns out Wall Street has thrived with him office.
I guess I shouldn't get all my news from Fox.
;
Link please, unless this is just your opinion. - nm
[ In Reply To ..]nm
I'm not the OP, but all you have to do is plug the - headline into a search - nm
[ In Reply To ..]x
This is true. I did it and found it in Forbes magazine, - among other. Not difficult to do.nm
[ In Reply To ..]nm
We should have let Wall St. and the banks fail; they - both need rebuilding from the ground up. (nm)
[ In Reply To ..]nm
I agree. - nm
[ In Reply To ..]nm
I agree, too. (nm) - mm
[ In Reply To ..]nm
Well, from what I'm reading now, there are a couple things - Backwards Typist
[ In Reply To ..]that jumped out at me. One is China held interest rates which boosted U.S. stocks and the Fed. Reserve bought treasury securities. Plus oil prices and gold are up again.
Another article, and one that will affect almost everyone next year is this:
"It will become more costly for U.S. consumers and businesses to borrow in 2011 as the economy gains traction, should forecasts from major Treasury-bond market dealers prove correct. (my note: As if credit and borrowing has been easy since 2009.)
The 10-year Treasury note's yield, a benchmark used to set interest rates such as mortgages and corporate-bond sales, may rise to 3.5% by the end of 2011, compared with 3.297% on Friday, as investors pull back from Treasurys. (Yields rise as the price falls.)"
I also would like to see the link to your info. I can't seem to find it on the WSJ. Please post.
Well, I found this RECENT article. - Backwards Typist
[ In Reply To ..]All others were from 2009.
But it is a blog.
http://www.examiner.com/unemployment-in-rochester/thanksgiving-wall-street-feeds-on-record-profits-as-unemployed-feed-on-despair
Another article states WS profits are the 4th most profitable - Backwards Typist
[ In Reply To ..]for the year 2010.
Wall Street is on track to earn more than $19 billion in profits, making 2010 the industry's fourth most profitable year in 30 years.
A report by New York State Comptroller Thomas DiNapoli says while the profits are significant, they're down nearly 70 percent from last year's record because of lower revenues from proprietary trading and investment banking activities. The financial industry also started to restructure itself as Congress passed new financial regulations this summer.
http://www.wnyc.org/articles/wnyc-news/2010/nov/16/large-not-supersize-wall-streets-2010-profits/
Yes, the corporations need big tax cuts on all those profits. - So where are the jobs?
[ In Reply To ..]Not there, because it is demand and supply, not supply and demand. Lower and middle classes need to be strong to drive the demand and more jobs. Not just offshoring and cost cutting (deregulation, wage lowering, benefit cuts) to drive up corporate profits.
There are thousands of companies out there... - that are not publically traded.
[ In Reply To ..]Not every company who has employees is listed in the stock market.
Most of the articles are about Wall Street, not the corporations - Backwards Typist
[ In Reply To ..]The bailouts helped Wall Street. The little guy (us) can't get a job on Wall Street unless we have a college degree in Finance. Who the heck would want one anyhow? I sure wouldn't.
WSJ - corporate profits record - rates
[ In Reply To ..]http://online.wsj.com/article/SB10001424052748704369304575632370561495484.html
Big bonuses coming--Merry Christmas! - see link
[ In Reply To ..]
I would partially agree with the following paragraph - Backwards Typist
[ In Reply To ..]"As separate Bloomberg survey shows over 70% of Americans think big bonuses should be banned this year while over 85% of those surveyed favor a 50% tax on bonuses exceeding $400,000."
I disagree it should be $400,000. It should be $250,000. LOL
US corporate profits highest on record - I wonder if they will pay any taxes?
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