- Barron's 2013 And 2014 Top 10 Picks: Do You Get The Message?[at Seeking Alpha] - Barron's top 10 stock picks for 2014 is all over the news. Just for the record, those names are: Citigroup ( C ), Intel ( INTC ), General Motors ( GM ), Nestle (OTCPK: OTCPK:NSRGY , OTCPK: OTCPK:NSRGF ...(08 Dec 2013 11:22:08)
- JPMorgan China Hiring Probe Spreads to Five More Banks, NYT Says[at Bloomberg] - Goldman Sachs Group Inc. and Deutsche Bank AG are among five Wall Street firms in addition to JPMorgan Chase & Co. whose hiring practices in China are being probed by U.S. regulators, the New York Times ...(08 Dec 2013 02:26:28)
- Bank of America Pegs Bitcoin -- Here's Why It's a Waste of Time[at Motley Fool] - Bank of America's newest report may have been more useful if it were about tulips instead of everyone's favorite digital currency, bitcoin.(08 Dec 2013 00:02:02)
- JPMorgan emails show China family hires made to win deals - NYT(07 Dec 2013 22:32:25)
- JPMorgan emails show China family hires made to win deals- NYT[Reuters] - Internal JPMorgan Chase & Co emails and computer files being examined by U.S. authorities show that the bank favored hiring people from prominent Chinese families in order to win investment banking business, the New York Times reported on Saturday. The documents show that a JPMorgan program designed to prevent questionable hiring practices was ultimately viewed inside the company as "a gateway to doing business with state-owned companies in China," the Times said, adding that it had reviewed copies of the emails and computer spreadsheets. In one email, an executive said that hiring sons and daughters of powerful people in China "almost has a linear relationship" with winning assignments, the Times said. A JPMorgan spokesman declined to comment on the report, as did representatives of the U.S. Securities and Exchange Commission and the office of the federal prosecutor in Brooklyn, New York, which are investigating the matter.(07 Dec 2013 22:28:14)
- Whiskers Unlimited? Not on Wall St.[at New York Times] - Beards are back as a fashion statement, but many bankers have yet to get the memo.(07 Dec 2013 21:29:50)
- When Good News Goes Good[at Seeking Alpha] - Anyone who remembers the abysmal state of television during the turn of this century recalls the spate of shows that sought to shock our natural order and expectations by illustrating good things gone ...(07 Dec 2013 18:49:56)
- Bank Tracked Business Linked to China Hiring[at New York Times] - Confidential documents offer the most detailed account yet of JPMorgan’s “Sons and Daughters” hiring program, which has been at the center of a federal bribery investigation.(07 Dec 2013 18:24:36)
- Super Bowl 2014: New Jersey out in the cold?[at USA TODAY] - The game is in New Jersey but big partying is likely to be across the river in New York.(07 Dec 2013 18:13:12)
- Warren Buffett Places One Heck of Bet on Energy[at Motley Fool] - Between ExxonMobil, ConocoPhillips, Suncor, and Burlington Northern, Warren Buffett is making an enormous bet on Canadian oil sands.(07 Dec 2013 18:04:25)
The United States financial sector is the largest and most developed in the world, comprising 50% of all US profits. This industry is lead by major investment banks offering investment management, equity underwriting, and selling financial products. Other major companies offering lending, however many decline greatly during the recent housing bubble collapse.
As a result of the recent sub-prime mortgage crisis, many new regulations have been put into place to curb aggressive behaviors such as mixed risk class products, bank proprietary trading, and lending to high-risk customers. These new measures will result in lower financial sector profits, but also less risk associated too.
The US financial sector is largely based the north-eastern coast, centered in New York City’s Wall Street, housing the New York Stock Exchange and the NASDAQ stock exchange. There is also a sophisticated venture capital industry in the west coast where many high-tech and start-ups are based.