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Wall Street Roundup: Buffett's bank buy. Bonus culture remains.

February 15, 2011 |  7:29 am

Gold: Trading now at $1,375 per ounce, up 0.8% from Monday. Dow Jones industrial average: Trading now at 12,233.68, down 0.3% from Monday.

Washington on wall - carolyn cole Big Board goes European. The New York Stock Exchange agreed this morning to merge with Germany's largest stock exchange company, though the Chicago Mercantile Exchange is allegedly considering whether to disrupt things with its own offer.

Buffett's bank buy. Warren Buffett's Berkshire Hathaway has been selling its shares in Bank of America and adding to its stake in Wells Fargo. Meanwhile, Citigroup is hot with hedge funds.

Weak ammunition. Prominent economists are distancing themselves from a report that was supposed to provide ammunition for financial industry opponents of new derivatives legislation.

Bonus culture remains. A new congressional report says the watchdog assigned to reign in bank bonuses did not create any lasting change in Wall Street's big money culture.

Winning over Steven Cohen. A very personal tale of how one trader tried to win access to Steven Cohen, the hedge fund magnate who has been under scrutiny in the government's insider-trading investigation.

--Nathaniel Popper

Credit: Los Angeles Times / Carolyn Cole.