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Wall Street

WNYC News

Tiny Violin for Wall Street as Bonuses Shrink

Friday, December 13, 2013

The securities industry isn't the jobs-engine it used to be.

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The Takeaway

The Economic Impact of the Volcker Rule

Wednesday, December 11, 2013

This week, financial regulatory agencies officially approved the Volcker Rule, passed as the centerpiece of the Dodd-Frank Act in June 2010. Kathryn Wylde, Deputy Chair of the Board of the Federal Reserve of New York, compares the final iteration of the Volcker Rule to what Volcker originally devised, and describes how the Rule might influence the U.S.'s economic future. 

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WNYC News

Can A Guilty Plea Really Deter Financial Crimes?

Monday, November 04, 2013

A Connecticut hedge fund has pleaded guilty to insider trading and agreed to pay a massive $1.2 billion penalty. The question now is whether SAC Capital’s record-setting settlement will change behavior on Wall Street.

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WNYC News

DiNapoli Warns Wall Street Profits May Dip

Tuesday, October 22, 2013

Big banks made healthy profits in the first half of this year, but pending lawsuits and the recent debt standoff in Washington will probably take a bite out of Wall Street's bottom line by the end of the year.

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WNYC News

Dow Jones Jumps 200 Points on News of Potential Debt Deal

Wednesday, October 16, 2013

News of a deal to raise the debt limit sent stocks soaring Wednesday. The Dow Jones added over 200 points. But traders at the New York Stock Exchange weren't especially impressed.

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Money Talking

What Happens If Uncle Sam Can't Pay the Bills?

Friday, October 11, 2013

The federal government could default on its debt if it does not increase the amount of money it can borrow by October 17. 

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Selected Shorts

Selected Shorts: High Society

Friday, September 13, 2013

Guest host Cynthia Nixon introduces two tales of avarice and pretension among the well-heeled and well-born.

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The Takeaway

Five Years After the Collapse, The Debate Over Financial Regulation Rages On

Thursday, September 12, 2013

Some say we've turned a corner since the collapse of Lehman Brothers and that the financial industry is able to prevent another crash like the one suffered in 2008. But others, like Jeff Connaughton, aren't so sure that enough has been done. Connaughton is a former lobbyist, White House lawyer and Senate aide. He’s the author of “The Payoff: Why Wall Street Always Wins.”

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The Leonard Lopate Show

Language Columnist Ben Zimmer on "Bubble"

Tuesday, August 27, 2013

Ben Zimmer, executive producer of Vocabulary.com and the Visual Thesaurus, and language columnist for The Wall Street Journal, discusses the use of the word “bubble” in the financial sense.

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The Takeaway

DOJ Indicts Wall Street Hedge Fund SAC Capital for Being "Market Cheaters"

Friday, July 26, 2013

The Justice Department called Wall Street hedge fund SAC Capital yesterday "a magnet of market cheaters" in a broad indictment of the firm, which is run by billionaire Steven A. Cohen. SAC has been accused of systematic insider trading violations dating back more than a decade. Joining us to discuss this Ben Protess reporter for our partner the New York Times.

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Money Talking

SAC Capital Hedge Fund Charged with Insider Trading

Friday, July 26, 2013

After years of circling billionaire Steven Cohen, federal authorities brought criminal charges Thursday against his hedge fund SAC Capital Investors. 

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WNYC News

Survey: Professional Ethics Weak on Wall Street

Tuesday, July 16, 2013

In a survey of hundreds of people working on Wall Street, more than 1 in 5 said they'd seen or heard about wrongdoing in the workplace, and a quarter said they'd engage in insider trading if it meant making $10 million.

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The Leonard Lopate Show

Charles Gasparino on Insider Trading

Friday, July 12, 2013

Charles Gasparino talks about the government’s crackdown on insider-trading networks—an investigation that has led to more than 60 convictions. In Circle of Friends: The Massive Federal Crackdown on Insider Trading—and Why the Markets Always Work Against the Little Guy, he follows government investigators and prosecutors pursuing one of the most aggressive and broad-reaching series of insider-trading cases in the nation's history and has put big names on Wall Street behind bars.

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The Leonard Lopate Show

Andy Borowitz Guest Hosts; Insider Trading; "Dancing in the Streets"; Kevin Pearce's TBI; Please Explain

Friday, July 12, 2013

Guest host Andy Borowitz fills in! He’ll speak with Charles Gasparino about the federal crackdown on insider trading. Mark Kurlansky on how the song “Dancing in the Street” became an anthem for changing America. Champion snowboarder Kevin Pearce talks about surviving his traumatic brain injury, along with Lucy Walker, director of a new documentary that chronicles his road to recovery. Plus, Please Explain is all about the art of complaining.

The Leonard Lopate Show

Matt Taibbi on the Last Mystery of the Financial Crisis

Thursday, June 27, 2013

Rolling Stone Contributing Editor Matt Taibbi discusses what new documents reveal about the role that the rating agencies played in the 2008 financial meltdown. His latest article is "The Last Mystery of the Financial Crisis."

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The Leonard Lopate Show

A Wall Street Trader’s Tale of Excess

Wednesday, June 26, 2013

Former Galleon Group trader Turney Duff, describes getting caught up in an after-hours Wall Street culture where drugs and sex are rampant and billions in trading commissions flow to those who dangle the most enticements. His memoir The Buy Side: A Wall Street Trader’s Tale of Spectacular Excess shows the rewards and temptations of making a living as a trader.

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New Tech City

New Tech City: Algorithmic Trading For the Masses

Tuesday, June 25, 2013

Many Wall Street firms make thousands of trades a second from computer terminals, but the technology is so expensive that only the biggest firms can take advantage of it. This week on New Tech City, meet one local company that wants to give everyone a chance to trade fast — and maybe take back some power from the big boys on Wall Street.

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The Takeaway

'The Buy Side' and Wall Street's Dark Side

Wednesday, June 05, 2013

In 1994, Turney Duff was a fresh-faced journalism graduate from Ohio University with no clear career plan.  He moved to New York and called up a rich uncle who worked at Morgan Stanley.  A few phone calls later, Duff had his first job in finance, in an asset-management division of Morgan Stanley.  Over the next 15 years, Duff climbed the ranks of Wall Street, eventually acquiring a 7-figure salary as well as a cocaine addiction. He recalls his high flying days and downfall on Wall Street in a new memoir, “The Buy Side: A Wall Street Trader’s Tale of Spectacular Excess.” 

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The Takeaway

Protests in Turkey, Wall Street's Dark Side, Immigrant Families Torn Apart by Deportation

Wednesday, June 05, 2013

Protests Continue in Turkey | Protests in Turkey Reflect Deep Resistance to Erdogan's Policies | 'The Buy Side' and Wall Street's Dark Side | Immigrant Families Torn Apart by Deportation

The Leonard Lopate Show

The Story Behind Wall Street’s Largest Hedge Fund Disaster

Monday, June 03, 2013

Securities analyst turned investigative reporter Barbara Dreyfus tells the story of Brian Hunter, John Arnold, Amaranth Advisors, and the largest hedge fund collapse in history. At its peak, hedge fund Amaranth Advisors LLC had more than $9 billion in assets. A few weeks later, it completely collapsed. Her book  Hedge Hogs: The Cowboy Traders Behind Wall Street’s Largest Hedge Fund Disaster charts the paths of two traders who dominated the speculative energy market, and traces the rise of the hedge fund industry.

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