Wall Street Roundup: Buffett’s BofA billions. Poor bankers.
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Gold: Trading now at $1,731 an ounce, down 1.5% from Wednesday. Dow Jones industrial average: Trading now at 11147.74, down 1.5% from Tuesday.
Buffett’s BofA billions. Just like Goldman Sachs in 2008, Bank of America is getting helped out of a jam with a $5 billion investment from Warren Buffett -- Buffett told CNBC he came up with the idea in the bath. Here’s what the bank told its employees to say as its troubles have mounted.
Fed disappointment coming? A consensus is growing among economists that Fed Chairman Ben Bernanke may not announce a new monetary stimulus program at the Fed meeting Friday as many investors had hoped.
Poor bankers. A new survey suggests that a majority of young Wall Street bankers want out. One of the main sources of disappointment, get this, is the low pay.
Goldman’s fine print. Goldman Sachs is using some fine print it inserted in employee contracts to cut back the salaries of bankers in the firm’s London offices.
-- Nathaniel Popper
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