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Wall Street Roundup: Choosing to be punished. Why the gold rush?

November 26, 2010 |  8:55 am

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Gold: Trading now at $1,357 per ounce, down 1.3% from Thursday. Dow Jones industrial average: Trading now at 11,103.30, down 0.8% from Wednesday.

While you were eating turkey. The European debt crisis continued to worsen as investors wondered who might be next. Perhaps Portugal and then Spain?

Waiting for the other shoe. After the first arrests in the government's big insider-trading investigation, traders are waiting to see who gets hit next, and preparing for visits from FBI agents. Across the pond, British regulators brought their first case in the current wave.

Choosing to be punished. Although financial-reform legislation attempted to protect consumers from overdraft fees, most customers are choosing to pay them -- most of all, the customers who have been slammed by the fees the most.

Visiting the enemy. Although Elizabeth Warren is not a favorite at the banks, the biggest Wall Street chieftains have visited her in the weeks since she began running the Consumer Financial Protection Bureau.

Why the gold rush? Floyd Norris looks at why the price of gold keeps rising and comes to the conclusion that it is primarily distrust of political leaders everywhere.

Unnoticed victims. As the Irish economy has tanked, among the forgotten victims are the horses that Irish new money bought and then abandoned to starvation after the crash.

-- Nathaniel Popper in New York

Photo: A horse-drawn carriage in front of the Bank of Ireland. Credit: Peter Morrison / Associated Press

 

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