Tough Times On Wall Street?

A blog about business and economics.
Nov. 22 2011 3:07 PM

Tough Times On Wall Street?

"Three years after the global financial crisis nearly brought Wall Street firms to the brink, the nation’s largest banks are again struggling. As profits wane, layoffs have claimed thousands of jobs and those still employed have watched their compensation shrink. These problems are set against the morale-crushing backdrop of the Occupy Wall Street movement, which has made a villain of a once-lionized industry." Kevin Roose, the New York Times.

"U.S. bank earnings reached a more than four-year high in the third quarter, but regulators are warning that the industry faces challenges that include the risk of the European debt crisis washing up on U.S. shores." Dave Clarke, Reuters

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.