Financial workers at Wall Street's top banks are to receive pay deals worth more than $70bn (£40.4bn), a substantial proportion of which is expected to be paid in bonuses, for their work so far this year - despite plunging the global financial system into its worst crisis since the 1929 stock market crash, the Guardian has learned.
Tags: global financial system, stock market crash, wall street
Top Wall Street Bankers to Receive $70 Billion Pay Deals
October 17, 2008 By Leave a Comment
Another Wall Street nightmare ends after loses 733 points
October 15, 2008 By Leave a Comment
Wall Street had its worst day since the 1987 stock market crash on Wednesday, as bleak economic data fed worries that all the efforts to unlock credit markets may not stave off a severe recession.The market’s despair propelled the Dow Jones industrials down 733 points to their second-largest point loss ever and the major indexes all lost at least,,
Tags: industrials, recession, stock market crash, wall street
Wall Street Gate: FBI Investigating Stock Market Fraud
October 14, 2008 By Leave a Comment
Wall Street Gate: FBI says it does not have the resources to investigate fraud scandal that caused of 2008 Stock Market Crash. Don't worry it wasn't a short term scandal that caused the crash. It was a long term propping up of the market that caused it. Everybody was in a "not on my watch mode". Especially in government.
We should have had some significant declines already. Somehow they have been able to extend themselves this far. That's just going to make the fall that much worse. And the problem is regular people just don't understand. Especially when I used to hear stuff like, "Being diversified means having all different kinds of stocks", lol. It is comical.
Tags: fbi, fraud scandal, stock market crash, wall street