Wall Street Roundup: Leaving London, McKinsey’s dark past

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Gold: Trading now at $1,423 per ounce, down 1.0% from Wednesday. Dow Jones industrial average: Trading now at 12,233.26, up 1.4% from Wednesday.

Fighting over the fine. Federal officials appear to be at odds over how hard they should come down on banks for their handling of mortgage foreclosures.

Questionable accounting. The Securities and Exchange Commission is looking at maneuvers that banks have used to make their loan losses look less bad.

Leaving London. The head of Swiss bank UBS told British lawmakers that their heightened regulation of the finance industry could lead banks to move elsewhere.

The misfortune of others. Guggenheim Partners, a small investment bank, is snapping up traders who were pushed out of larger banks by the financial reform bills ban on proprietary trading.

Off to prison. Financial adviser to the stars, Ken Starr, received a seven-year prison sentence for bilking his clients.

McKinsey’s dark past. After regulators filed allegations against the former head of McKinsey & Co., Barry Ritholtz looks at all the other recent scandals in which McKinsey has been quietly involved.

-- Nathaniel Popper

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