Wall Street Roundup: Firing bankers. McKinsey speaks.

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Gold: Trading now at $1,556 per ounce, up 0.9% from Friday. Dow Jones industrial average: Trading now at 12531.80, down 1.0% from Friday.

New Europe concerns. Stock markets are being sent down over concerns about yet another European economy -- this time it’s Italy.

Firing bankers. The Wall Street Journal has the scoop on AIG potentially firing one of its Wall Street bankers after the company’s disappointing recent sale of stock.

McKinsey speaks. The head of the consulting firm McKinsey speaks for the first time about the damage done to the company by revelations made about McKinsey during the Galleon insider trading case.

Deutsche’s future. Wall Street hands are closely watching the succession battle at Deutsche Bank; it now appears that two new leaders may be chosen.

Banks winning. Newsweek has the latest take on how the financial industry has managed to win over Congress and water down the financial-reform bill.

-- Nathaniel Popper