Bad Credit Loans

• Huge payouts will be a ‘bitter pill’ for many• Investment banks on track to make $55bn profit for 2009 Total Wall Street bonuses since 1985 (pdf) Despite calls for restraint in multi-million dollar pay packages, Wall Street bonuses jumped by 17% to $20.3bn (£13bn) for 2009 as America’s financial services industry rebounded swiftly from the credit [...]

John Stumpf, who came from a poor farming family, earned $18m last year, double the pay of Goldman Sachs boss A former Minnesota farm boy who began his working life as a baker has become America’s highest-paid banking boss by taking a sceptical view of Wall Street’s trading floors and scorning the financial industry’s penchant for [...]

If Ben Bernanke is approved for a second term as chair of the Federal Reserve Board, the decision will ignore his key mistakes The US Senate’s decision on approving Ben Bernanke for a second term as chair of the Federal Reserve Board is coming down to the wire and the Wall Street crew is once again [...]

The megabanks could be split up – or might turn into footloose investment banks again More details please. On Thursday ­President Obama declared war on Wall Street – but what would ­victory look like? On day one, it seemed as if a break-up of JP Morgan, Morgan Stanley, Bank of America, Citigroup and Goldman Sachs [...]

The Dow Jones Industrial Average (DJIA) closed down more than 200 points on Thursday night – a drop of over 2% and its worst performance since October last year President Barack Obama’s attack on Wall Street’s cabal of banks has rattled investors across the globe with share prices across Europe and Asia tumbling, commodity prices falling [...]

Analysts predict big payouts despite political pressure Goldman Sachs bankers are forecast to enjoy an 81% rise in their pay and bonuses for 2009, even though the bank may be forced to respond to political pressure by reducing the amount of money it sets aside for employee payouts in the fourth quarter of the year. Goldman is [...]

• Bank made year-end profits of $11.7bn• Darling’s bonus tax to hit hard• Profits fall short of analyst forecasts The Wall Street bank JP Morgan Chase has reignited a political furore over City pay packets by disclosing that it will hand out $9.3bn (£5.73bn) to its investment banking staff around the world despite facing a likely [...]

‘Twas the night before bonus season, when all through the White House many an adviser was stirring with the fierce urgency of acting now. Later today JP Morgan will be the first big Wall Street bank to announce exactly how much its masters of the universe will receive in bonuses for simply doing their jobs. No [...]

President to unveil levy on banks in bid to claw back some of the $700bn injected into the sector during financial crisis Barack Obama will announce plans today to impose a levy on Wall Street banks to cover some of the cost of bailing them out during the financial crisis. The new charge, likely to enrage America’s [...]

Chief executives accept some activities were ‘improper’ in testimony to commission, but remain defiant over pay Leading Wall Street bankers admitted today that they underestimated the severity of the financial crisis and apologised for making mistakes as a US government commission began its inquiry into the root causes of the banking meltdown. In a dramatic hearing, the [...]