Word: huge
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...clear departure from the historical norm, the White House is not cheering the return of huge profits to Wall Street. On the contrary, the recent windfalls at Goldman Sachs and JPMorgan, and the promise of giant year-end paydays for banking executives and traders, has caused a bit of consternation in the West Wing, coming as it does so soon after the taxpayer bailouts saved the entire financial system from total collapse...
...were a Wall Street firm, I would perhaps be cognizant of the fact that the financial regulatory-reform process is only beginning in Congress," warns a senior White House official, speaking about the political problems that huge paydays at Wall Street firms could create later this year, when new laws to regulate the industry will be written on Capitol Hill. Officials have also begun to worry aloud whether the Wall Street firms learned anything from the catastrophic financial crisis that was largely of their making or whether they are now returning to the old business of making short-term profits...
...July 14, Goldman Sachs posted second-quarter profits of $3.44 billion, more than the company made in all of 2008 and about on par with the precrisis gilded age, while announcing that it had set aside $11.4 billion this year to compensate workers, or $386,489 per employee. The huge profits were hailed on Wall Street as another sign that the crisis might be ending. On July 15, the Dow Jones industrial average jumped 3.1%, and other banking giants are expected to issue their own similarly glowing reports. On July 16, JPMorgan announced that it had earned $2.7 billion...
...much was done to provide students with information about primary care careers or to connect them with role models in primary care," said Susan Edgman-Levitan, executive director at The John D. Stoeckle Center for Primary Care Innovation. "[The cut] comes at a time when there is huge national concern about the role of primary care in the health care system going forward. Most other schools and organizations are doing everything they can to strengthen the primary care base, attracting not only doctors but other professionals in primary care, and here we are cutting the division...
...medium-size oil field called North Azadegan - a deal worth about $2 billion. And last month, while demonstrators were fighting pitched battles with paramilitaries on Tehran's streets, Iranian oil officials flew to Beijing to negotiate a $5 billion deal with CNPC for the newest phase of Iran's huge South Pars gas field in the Persian Gulf. Pummeled by the drop in world oil prices from $147 per bbl. last July to about $64 per bbl. this week, "Iranians are feeling more and more of an acute need for capital," Downs says...