Say what you will about investment banking as a benefit to and/or plague on the finance sector, economy, New York City, and the universe in general. Now there’s science to back the idea that, yes, investment banking is actually, medically ‘bad’ for one’s health. How bad? Try “insomnia, alcoholism, heart palpitations, eating disorders and an explosive temper” or at the very least “a stress-related physical or emotional ailment within several years on the job.” Science!
It was at the depths of the economic downturn that mega-developer Larry Silverstein first sought to raise capital for the construction of three towers at the World Trade Center site by securing $1.3 billion in bonds from the Port Authority of New York and New Jersey, the site’s landlord.
To navigate such Read More
Wall Street titan and adept moneymaker Goldman Sachs faces a lawsuit by three former employees that accuses the firm of keeping a crotchety, staid culture that keeps women from getting raises and promotions, The New York Times reports.
The three plaintiffs — Christina Chen-Oster, Lisa Parisi and Shanna Orlich — served respectively as vice Read More
Tales of The Recession
Thanks to increased public scrutiny in the era of bailouts, SEC investigations and other forms of government inquiry, newcomers to Wall Street’s top firms aren’t getting the classy treatment they used to, according to this Businessweek trend piece on the death of “sell night.”
On sell nights of yore, investment banks would wine and Read More
AXA, the French company that owns the world’s largest stake in oft-vilified Wall Street titan Goldman Sachs, has slashed its stake in the company by more than half.
During the second quarter, AXA dumped 16 million shares in Goldman, reducing its stake in the company to 2.1 percent from 5 percent, the Financial Times Read More
New York’s cover story about the strained relationship between Obama and Wall Street doesn’t offer much in the way of new information, but author John Heilemann did pepper the article with some juicy Glengarry-Glen-Ross-meets-The West Wing-style quotes.
The best among them is a cringe-inducing moment in a section devoted to the lack of Read More
On a recent drizzly Sunday afternoon, a 29-year-old New York banker was sitting in a West Village cafe, eating biscotti with a mocha cappuccino and a glass of grapefruit juice. “I want to retire early and maybe do something else,” he sighed.
“My premium years were spent working very, very hard because of the Read More
The second season of Wall Street Warriors, a reality show broadcast on the hi-definition cable channel Mojo with the tagline “Gambling at Its Finest,” was released on Monday, giving viewers without HDTV the chance to “witness the extreme power and intense competition that defines Wall Street through the eyes of those who thrive there.”