Wall Street Roundup: Regulators diss regulation. Cuts at big bank.
A bevy of bad news. Stocks fell precipitously this morning after new reports showed that China's economic growth has slowed, America's trade deficit has widened and predictions for oil demand fell. A survey of economists suggest that unemployment could hurt the American economy more than expected.
Regulators diss regulation. Financial regulators talked at a hearing yesterday about some of the problems with the recently passed financial reform bill.
Wall Street goes red. Figures out today provide further evidence that Wall Street is shifting its political donations from Democrats to Republicans.
Cuts at big bank. Barclays Capital, the investment bank arm of the British bank, is said to be cutting employees at its American offices after a rough few months on the markets.
L.A. power player. A New York take on L.A. power player Ron Burkle, which notes that "as business capitals go, Los Angeles is an oddity."