Alicia Zuno

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Bloomberg.com

Why Won't Washington Take on Wall Street's Biggest Crimes?

The Justice Department has successfully convicted dozens of bankers for insider trading. But the big banks did something much worse and got away with it.<p>Yesterday, the judge in the SAC case accepted the firm's plea deal with the Justice Department, in which the firm and its subsidiaries pled guilty …

JPMorgan, Morgan Stanley, RBS said place traders on leave

Mortgage-bond traders at JPMorgan, Morgan Stanley and Royal Bank of Scotland were placed on leave in recent weeks or months, according to people …

How Wall Street's Life-Ruining Work Habits Hurt All Of Us

You might feel no sympathy for young bankers and the punishing hours they work. But you might want to pay attention, because their bad work habits could be contagious.<p>When bankers leave Wall Street mid-career for new gigs in consulting, media or other industries, they often take their taxing work …

Bank of America’s legal woes are only partly to blame for its disappointing quarter

<b>The numbers:</b> Less than stellar. The US’s second largest bank by assets spent $6 billion during the first quarter on settlements tied to disputes with the mortgage firms Fannie Mae and Freddie Mac–its biggest legal expense this quarter. The bank came in short of analyst expectations, losing $276 …

Bank of America

US financial showdown with Russia is more dangerous than it looks, for both sides

The US Treasury faces a more formidable prey with Russia, the world's biggest producer of energy with a $2 trillion economy, superb scientists and a first-strike nuclear arsenal<p>The United States has constructed a financial neutron bomb. For the past 12 years an elite cell at the US Treasury has …

IRS considers taxing work perks like food, gym memberships

In competitive job markets like Silicon Valley, companies are doing everything they can to entice the best and brightest -- offering freebies that have become the stuff of legend.<p>Employee perks like free food at lavish cafeterias, laundry and even yoga are not unheard of.<p>But the taxman could soon …

The Number That Has Goldman Sachs Worried About High Frequency Trading

It's not an easy thing to do. Banks work with high frequency trading firms to execute orders, they also have their own dark pools — private, anonymous exchanges that have become a part of the new market ecosystem synonymous with HFT. Goldman's dark pool is called Sigma X.<p>So why would a bank take on …

Morgan Stanley Sees Lone Trading Jump as Goldman Drops

Morgan Stanley posted a jump in first-quarter trading revenue while Goldman Sachs Group Inc.’s dropped, the first such divergence in two years.<p>Morgan …

U.S. Warned Money Managers of More Russia Sanctions

The Obama administration told asset managers last week that it was planning additional sanctions against Russia over the conflict in …

Stocks: It's report card time on Wall Street

We're heading into the heart of the earnings season this week. It's a reality check on the health of the economy and where the markets stand ... and maybe where they'll go.<p>Some of America's most recognizable brands will disclose how they're doing.<p>Netflix (NFLX) will be the focus on Monday when it …

About half of America has zero net wealth

Wealth is the value of everything you own: stocks, bonds, your home, your car -- minus your debts. And while income inequality has taken center stage in debates about the growing gap between rich and poor, what's happening with wealth paints an even more staggering picture.<p>The wealth share of the …

Demographics

South Korea ferry disaster may cloud Obama visit

SEOUL, South Korea (AP) — President Barack Obama stepped into the familiar role of chief consoler Friday as he arrived for meetings in South Korea, a …

South Korea economic growth beats forecasts

<b>South Korea's economy grew more than forecast in the first quarter, helped by a jump in construction and exports.</b><p>Asia's fourth-largest economy expanded by 3.9% in the January-to-March quarter from a year earlier. Many analysts had forecast growth of 3.7%.<p>Compared with the previous three months, the …

Economics

Things Are Finally Starting To Look Up In Spain

The Eurozone's fourth-largest economy expanded by 0.4 percent on a quarterly basis, the Bank of Spain said in a monthly report, citing initial data.<p>It was the sharpest quarterly growth rate since the first quarter of 2008 when a decade-long property bubble imploded, tipping the nation into a …

Japan's trade deficit quadruples in March

<b>Japan's trade deficit quadrupled in March as export growth slowed and energy imports continued to rise.</b><p>A weak Japanese currency, which pushed up the cost of imports, also contributed to the widening gap.<p>The deficit rose to 1.45 trillion yen ($14bn; £8.4bn), up from 356.9bn yen during the same month …

Economy

Student debt holds back many would-be home buyers

Sarah Luna wants to buy a home in up-and-coming northeast Los Angeles before it's too late.<p>At 31, she has a master's degree and earns more than $70,000 as a court reporter and freelance editor. She daydreams about trading the Glendale apartment she shares for a little condo, maybe in Echo Park or …

Labor Economics