The New York State Comptroller, Thomas DiNapoli, said that profits in the New York securities industry were down by half in 2011 — but bonuses only dropped by 14 percent.
Only a week after European officials approved a Greek bailout package, Greek banks are suffering, the European Central Bank is rejecting Greek bonds as collateral, and a financial freeze seems closer than ever to taking hold on the Continent.
The Oracle of Omaha released his annual letter to investors on Saturday revealing that the 81-year-old investor had picked his successor — and set tongues wagging about who it could be with an appearance on CNBC this morning.
The dip in unemployment and job claims indicate optimism — but wages fell sharply for the majority of American workers last year in a way that they haven't since 2007.