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Wall Street Roundup: Banker optimism, banker pessimism

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Gold: Trading now at $1,661 per ounce, up 0.1% from Thursday. Dow Jones industrial average: Trading now at 11,301.87, down 0.8% from Thursday.

No relief. A halfway decent jobs report Friday morning was not enough to prop up the markets after the biggest drop since 2008. Want to see the arguments for why not to panic? Look here. And Tom Petruno provides an interesting look at the history of drops like the current one.

The real Dow Jones. Dow Jones, of Alma, Ark., said he was doing just fine Thursday.

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Exchange deal questioned. European regulators are asking tough questions about the proposed deal that would see the New York Stock Exchange bought by Germany’s largest exchange.

Banker optimism. Some of Morgan Stanley’s executives have seen a buying opportunity in the recent market rout, snapping up stock in their own bank.

Banker pessimism. Analysts at Wells Fargo said that the sector in which they are employed -- the banking sector -- is not promising.

Slim’s fat losses. Mexican billionaire may have lost as much as $8 billion on the markets in the last few days, according to some calculations, leaving the poor guy with only $63 billion.

Rajat Gupta’s saga. The Securities and Exchange Commission dropped its unusual complaint against Rajat Gupta, the former head of McKinsey, but the regulators have said they may bring a more ordinary lawsuit against him.

Bank of America’s saga. The New York attorney general is intervening in the $8.5-billion settlement that Bank of America recently reached with investors, arguing that the settlement was not reached properly.

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-- Nathaniel Popper


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