Another HUGE year for Wall Street

[Enrique]

http://www.npr.org/blogs/money/2010/12/13/132028335/another-huge-year-for-wall-street

Big banks are likely to have their second-best year ever in trading and investment banking — just behind last year, Bloomberg News reports.

That's based on Bloomberg's own analysis of the banks that make the most money in those areas: Goldman Sachs, JPMorgan Chase, Bank of America, Citigroup and Morgan Stanley.

Bond trading has been particularly strong for the banks, which have profited from Fed interest-rate policies.

New rules on trading by the banks, among other things, may mean less revenue next year, Bloomberg says.


***********


Top Recipients, 2008 Cycle, from Goldman Sachs, JPMorgan Chase, Bank of America, Citgroup, Morgan Stanley:

http://www.opensecrets.org/orgs/recips.php?id=D000000106&type=P&state=&sort=A&cycle=2008

Morgan Stanley

Obama, Barack (D-IL) Senate $501,981
Clinton, Hillary (D-NY) Senate $391,080
McCain, John (R-AZ) Senate $270,902
Romney, Mitt (R) Pres $170,350
Giuliani, Rudolph W (R) Pres $140,400
Dodd, Chris (D-CT) Senate $68,400
Thompson, Fred (R) Pres $42,800
Baucus, Max (D-MT) Senate $30,500

JP Morgan Chase
http://www.opensecrets.org/orgs/recips.php?id=D000000103&type=P&state=&sort=A&cycle=2008

Obama, Barack (D-IL) Senate $688,695
Clinton, Hillary (D-NY) Senate $296,214
McCain, John (R-AZ) Senate $223,507
Giuliani, Rudolph W (R) Pres $105,250
Romney, Mitt (R) Pres $83,300
Dodd, Chris (D-CT) Senate $70,150
Reid, Harry (D-NV) Senate $59,600
Cornyn, John (R-TX) Senate $48,598
Rangel, Charles B (D-NY) House $45,600
Emanuel, Rahm (D-IL) House $41,100

Citigroup
http://www.opensecrets.org/orgs/recips.php?id=D000000071&type=P&state=&sort=A&cycle=2008

Obama, Barack (D-IL) Senate $731,347
Clinton, Hillary (D-NY) Senate $433,717
McCain, John (R-AZ) Senate $330,666
Romney, Mitt (R) Pres $178,200
Giuliani, Rudolph W (R) Pres $165,950
Dodd, Chris (D-CT) Senate $155,994
Rangel, Charles B (D-NY) House $61,950
Chambliss, Saxby (R-GA) Senate $51,650
Edwards, John (D) Pres $47,600
Durbin, Dick (D-IL) Senate $45,575
Sununu, John E (R-NH) Senate $42,850
Bachus, Spencer (R-AL) House $35,450
Emanuel, Rahm (D-IL) House $32,000

Goldman Sachs
http://www.opensecrets.org/orgs/recips.php?id=D000000085&type=P&state=&sort=A&cycle=2008

Obama, Barack (D-IL) Senate $995,745
Clinton, Hillary (D-NY) Senate $401,950
Romney, Mitt (R) Pres $235,275
McCain, John (R-AZ) Senate $234,695
Himes, Jim (D-CT) House $150,498
Dodd, Chris (D-CT) Senate $112,500
Giuliani, Rudolph W (R) Pres $111,750
Edwards, John (D) Pres $66,450
Specter, Arlen (R-PA) Senate $52,200
Emanuel, Rahm (D-IL) House $42,350

Bank of America

Obama, Barack (D-IL) Senate $388,742
McCain, John (R-AZ) Senate $166,026
Clinton, Hillary (D-NY) Senate $130,221
Giuliani, Rudolph W (R) Pres $83,000
Dodd, Chris (D-CT) Senate $72,150
Romney, Mitt (R) Pres $70,350
Biden, Joseph R Jr (D-DE) Senate $48,075

[golddigger]

1. Looks like their money was well spent/

[Supersedeas]

16. those Financial Oversight committees are there for the taking

[Renew Deal]

2. Obama and Democrats are good for business

That fits historical trends.

[sasha031]

6. it's not every Dem, i'm going to start watching open secrets

of course Bernie's not there

[4_TN_TITANS]

3. One look at who the 'favorite son' was

explains all the decisions we've seen over the last 2 years.

[sasha031]

4. my god...

;(

[GSLevel9]

5. but I thought that "as Wall Street goes" the rest of the country goes? nt

[Autumn]

7. How about that.

What was the name of that book? Oh yeah, The Best Democracy Money Can Buy. Good book.

[Supersedeas]

9. the more things change....the more they stay the same

[cowcommander]

8. Follow the money

[rug]

10. How does a first-term junior senator warrant these targeted donations?

[Enrique]

11. maybe the bankers liked his book?

:shrug:

[Exilednight]

12. It;s quite interesting to see whose name tops each of those lists. n/t

[old mark]

13. As long as the rich are making lots of money, we will all have jobs...right?

I doubt we will see any real hiring in the US at all for maybe another 5 years, maybe longer...but the republicans will want to stop the UC benefits and cut welfare, Medicare, Social Security and all social safeguard programs and federal regulatory programs to let "the free market" run the country...

We seem to need a whole new form of government, don't we?


mark

[FlyByNight]

14. Still waiting for the trickle down

Sure, something is trickling down but it's not money.

This at the heart of what's wrong (obviously). Citizens United will be, essentially, the final nail in the small-R republican coffin of the US. Wall St.-Big Finance, the MIC, Big PhRMA, "'Health' 'Insurance'", etc. now run the show.

[sciencewins]

15. Well Spend. And the result is going to be even more wealth this x-mas. Congrats to WA + WallStreet