Wall Street Roundup: Bank profits likely down. Goldman moratorium
Bank profits likely down. In advance of earnings season, many analysts believe that the big banks will report significantly reduced earnings in the second quarter due mostly to difficulties caused by the global economic uncertainty and bad trading conditions.
KKR opens up. As the private equity giant Kohlberg Kravis Roberts & Co. prepares for a stock listing next week, it opens its books for the first time and reveals closely held secrets such as the company founders' big pay packages.
Goldman moratorium. Goldman Sachs executives have put a hold on donations from the firm to politicians campaigning for national office in an effort to avoid the appearance of trying to influence financial reform legislation, Fox Business reports.
Traders fired. A New York trading firm, Schonfeld Group, is firing nearly 50 traders who have been left in the dust by "black boxes, stat arb and high-frequency trading which continues to grow at exponential rates," the firm wrote in a letter.
-- Nathaniel Popper in New York