Jobless Claims Rise in Latest Week
The number of U.S. workers filing new claims for jobless benefits unexpectedly rose last week — an increase a U.S. Labor Department economist said is partly due to an administrative backlog in processing claims.
US STOCKS-Wall St tumbles on Obama banking proposal
NEW YORK, Jan 21 (Reuters) – Wall Street tumbled on Thursday after US President Barack Obama proposed rules aimed at making the financial system safer by preventing the biggest banks from taking excessive risks.
Goldman Profit Leaps as Firm Restrains Pay
NEW YORK—Goldman Sachs Group Inc. on Thursday reported blowout fourth-quarter earnings, driven in part because it restrained compensation amid a public outcry about excessive pay.
The investment bank’s record-high profit of $4.95 billion for the fourth quarter far exceeded Wall Street estimates.
Ok, so it’s not all bad news, at least Obama’s buddies at Goldman Sachs are making a ton of money!