Word: bankes
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Dates: during 2000-2009
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...Johnson predicts that the average managing director at an investment bank, a title typically earned after eight years on the job, will receive a bonus of $625,000. That's down from nearly $1.1 million last year, but it is still 15 times the income of the average American household. Top bankers could receive as much as $1 million. Even a bond trader just out of business school could see his or her bank account enriched by as much as $170,000 this Christmas. "The firms have had an extremely difficult year," says Joan Zimmerman, a Wall Street career coach...
...Earlier this month, the government announced that it planned to quickly inject $125 billion of the $700 billion economic rescue package into nine of the nation's largest financial firms, including Wall Street titans Goldman Sachs and Morgan Stanley, as well as Bank of America, which recently acquired securities firm Merrill Lynch. That, along with other Treasury Department moves to rescue Wall Street, will mean the wallets of many investment bankers will be fatter than they would have been...
Exactly two weeks after Mitsubishi UFJ Financial Group, Japan's top lender, tossed a $9-billion lifeline to Morgan Stanley - in exchange for a 21% stake - Mitsubishi UFJ is in need of some help itself. On Monday, Japan's largest bank said that it needs to raise $10.7 billion in capital and will be selling common and preferred shares. It was negative news following negative news. Less than one week ago, Mitsubishi UFJ downgraded its net profit for the first half of the year to about half of what it was last year at this time. Japan's Nikkei index...
Shares of Japan's top three mega-banks - so recently perceived as impervious to the subprime-sparked crisis - tumbled along with it, in what is now the biggest decline in bank shares in 21 years and the latest sign that the global economic crisis is spreading further into Japan's financial system. Mitsubishi UFJ and Mizuho Financial Group, Japan's second largest bank, led the fall with shares dropping 15%, followed by an 11% drop in the shares of Sumitomo Mitsui Financial Group, Japan's third-largest lender...
...kept a relatively low profile through his campaign. But his grandmother was anything but low key during her career. Dunham was a trailblazer in her day in the 1960s and 1970s, a Caucasian female who rose in 1970 to become one of the first two female vice presidents at Bank of Hawaii, the islands' largest bank at the time. After she retired in the mid-1980s, she has mainly kept to herself in the Beretania apartment, cared for mostly by Obama's sister, Maya Soetoro-Ng. Soetoro-Ng does appear on her brother's campaign; she and her husband...