Wall Street Roundup: Volcker disappointed, how big banks got off easy

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Little job growth: American private companies added only 13,000 jobs in June, according to a private data company, disappointing analysts who had expected more job growth.

AIG and Goldman testify: Goldman Sachs and AIG executives who have managed to avoid public comment over the last two years are testifying in front of the financial crisis commission Wednesday.

How the big banks got off easy: The New York Times reports on how big banks such as Goldman Sachs were allowed by the government to get off easy when AIG was going under during the financial crisis.

Volcker disappointed: The former chairman of the federal reserve, Paul Volcker, is said to be disappointed with the final compromises on the financial regulatory rule that bears his name and was supposed to cut down on risky activities at big banks, Bloomberg reports.

Ratings agencies downgrade each other: Standard & Poor’s put a ratings watch on a fellow ratings agency, Moody’s.

-- Nathaniel Popper