Comptroller Thomas DiNapoli: Wall Street Is Doing Kinda/Sorta Better Than You

wallstreet.jpeg
Whether you're a part of the 47 Percent, the 99 Percent, the 1 Percent or some other slogan-driven demographic, this news should not surprise you: Wall Street is making a ton of money. Actually, it had its 5th best start of all time, doubling its profits from last year. In 2012 alone, the securities industry has a projected net profit of about $15 billion by the end of this year and it's already made $10.5 billion or so; in 2011, this number was around $7 billion or so, partly due to the economic turbulence in continental Europe.

These were the statistics State Comptroller Thomas DiNapoli shared with the world yesterday in a statement that left the rest of us non-securities-industry folk the usual high and dry. However, these profits are a rough decline from what we saw immediately after the financial meltdown of 2008 (Remember the whole 'golden parachutes' phenomenon of 2009? Yeah, Wall Street was pushing a profit of about $60 billion then. Bailouts can really come in the clutch.)

But, now that the billions, if not trillions, in bailout money has more or less evaporated into thin air somewhere in Downtown Manhattan, Wall Street is on its own again. And this sharp jump in profits in less than 365 days proves the point that, with or without the help of the taxpayer, the security industry can still make a nice buck on its own.
More »

Dogs (and UWS Activists) Against Romney Protest Outside Westminister Dog Show

42621.jpeg
​A "Dogs Against Romney" protest brought out more reporters sniffing for a story than pups this afternoon.

The animal advocacy group aims to call attention to an infamous incident in which Mitt Romney strapped the family dog in a crate to the roof of the car for a 12-hour drive in the late 1980s. Protester Paul Gestos, a longtime dog owner and Occupy Wall Streeter, said Mutt Romney's story reflects poorly on his owner's character. "It shows he has no empathy," Gestos said of the presidential hopeful. "He made a bad decision and now he won't even own up to it."

More »

Stealing from Non-Profits Is the Hottest New Trend

GRINCHYO!!!.jpg
Looks like the hip thing to do is to make non-profits even less profitable.

For the third time in a week, a New Yorker has been accused of illegally pocketing megabucks from a non-profit.

The Manhattan District Attorney says that Jeffrey Bernstein swindled more than $2,500,000 from the Albert Ellis Institute, a psychotherapy charity, between January 2010 and February 2011.

Bernstein, 62, worked as director of administration at the org, which offered affordable therapy to the public.

The D.A. indicted Bernstein today, claiming that he conned the group out of money by sending some 80 unauthorized wire transfers to his own business accounts.


More »

Slave Plantation Hawks "Day of Pure Chocolate Indulgence At Monticello," Proudly Extolls "Chocolate Was a Favorite of Jefferson's"

JungleFever.png
Straight from the files of "Historical Shit That Can't Be Made Up," we woke up this morning to a pretty unbelievable email from the Thomas Jefferson Foundation with the subject line, "Taste: Chocolate at Monticello."

Oh my, we thought, before opening it. Surely someone in TJ's PR office might be sensitive to and knowledgeable enough of, er, certain Jefferson proclivities to be wary of harping about his "taste" for chocolate!?

Apparently not.


More »

Now Trending

From the Vault

 

Links

Loading...