Wall Street Roundup: Hedgies versus bankers, Entourage on Wall Street

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Gold: Trading now at $1,439 per ounce, up 0.5% from Tuesday. Dow Jones industrial average: Trading now at 12,088.78 up 0.3% from Tuesday.

Hedgies versus bankers. The top 10 hedge funds made more last year than the world’s largest banks, the Financial Times discovered, despite having a fraction of the employees.

Why would he? After one of Wall Street’s most venerated names was accused of insider trading Tuesday, the inevitable question today is, Why would Rajat Gupta do it? Here are two proposed answers.

Dr. Doom on munis. Famed economic prognosticator Nouriel Roubini is saying that municipal defaults will be less than the doomsday scenario put forward by analyst Meredith Whitney a few months back, but could still amount to $100 billion.

Entourage on Wall Street. The producer of ‘Entourage’ is making a show about an ex-Bear Stearns employee and his friends in New York.

-- Nathaniel Popper

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