Wall Street Roundup: Wells Fargo goes it alone. Missing from CEO meeting.
Gold: Trading now at $1,389 per ounce, down 1.1% from Tuesday. Dow Jones industrial average: Trading now at 11,506.52, up 0.3% from Tuesday.
Divisions on Wall Street report. The commission tasked with writing a report about the financial crisis looks to be divided and set to release two conflicting reports instead of anything like the unified work of art released by the 9/11 commission.
Missing from CEO meeting. Only one Wall Street representative will be attending President Obama's meeting with business CEOs today, and it is an odd one: UBS executive Richard Wolf.
Maybe it's the clothes. Speaking of UBS, the bank is out with a new dress code for its bankers as it tries to regain its reputation after the financial crisis; consider "a skin cream that consists of nourishing and soothing elements."
Wells Fargo goes it alone. San Francisco-based Wells Fargo appears to be the only big bank that is advocating for banks to hold more of the mortgages they sell, in order to promote more careful lending.
-- Nathaniel Popper
Photo: UBS executive Robert Wolf. Credit: Bloomberg / Joshua Roberts.