Wall Street jobs data ‘experts’ are failing big time

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Attention all you Wall Street “experts” who try to predict the monthly employment report! This column is for you.

The rest of you, of course, can read along. But the first item in this column is specifically for those on Wall Street who get paid a lot of money to get their economic predictions correct.

And they don’t do that often enough.

Experts: it makes me sad to say this, but you aren’t doing a very good job. And, quite frankly, I’m afraid your bosses will soon be asking why and might even — dare I say it — be cutting your fine salaries.

OK, do I have your attention? Now I’m going to tell you where you are going wrong. Ignore me at your own — and your family’s — peril.

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Bitcoin sees Wall Street warm to trading virtual currency

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SAN FRANCISCO — Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world.

The parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin, according to emails and documents viewed by The New York Times and four people briefed on the effort who asked to remain anonymous because the plans were still confidential.

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Average Wall Streeter makes 5.2 times more than the average New Yorker

Wall Steeters are richer and harder to find than your average New Yorker.

The Office of the New York State Comptroller each year does a deep dive into Wall Street employment and compensation. The office has released its report for 2012, and as usual Wall Street salaries trounced the average New Yorker’s.

 

 

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Wall Street investors buying up distressed area single family homes

Hedge funds, Wall Street investors and other institutions are crowding out individual home buyers.

Wall Street investors are pouring unprecedented amounts of money into real estate hard hit by the housing crash, bringing those moribund markets back to life but raising the prospect of another Wall Street-fueled bubble that won’t be sustainable.

 

 

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The dark hours before the storm: “Margin Call”

Hollywood’s scripts always call for a protagonist. Margin Call has none.

Raymond Alvarez: The film Margin Call has to be regarded as a distorted reflection of reality. Just as Michael Douglas stood before a soon-to-be-fired audience in Oliver Stone’s Wall Street, declared greed good, rationalization has become a mainstay. At the end of the day, we’re just cannon fodder.

 

 

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The aristocracy on Wall Street got $1.2 trillion in secret loans

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Citigroup and Bank of America were the reigning champs of finance in 2006.

The reigning champions of finance in 2006 were Citigroup Inc. (C) and Bank of America Corp. (BAC).   As home prices peaked, they were leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.

 

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Facebook Valued at $50 Billion After Goldman Sachs Investment Deal

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The Goldman Sachs deal could double the personal fortune of Mark Zuckerberg, Facebook’s co-founder.

Facebook, the popular social networking site, has raised $500 million from Goldman Sachs and a Russian investor in a deal that values the company at $50 billion, according to people involved in the transaction.

 

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