Key Facts - 10 views
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#5 kevinan108 on 18 May 12Occupy Wall Street- OWS was a left wing response to the Tea Party. They were upset over Obama's policies towards Wall Street and they were upset by Wall Street's actions. OWS also seeked to address concerns over the growing inequality gap in the U.S
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#6 kevinan108 on 18 May 12French/Greek Elections- The recent elections in Europe have demonstrated that Europeans are fed up with austerity and have voted out leaders in charge of austerity. New leader Francois Hollande has promised to levy 70% income taxes on people making over $1 million dollars. Greece still cannot decide on a leader. As a result there has been a growing run on the banks in Greece and Spain and there are worries whether Greece will stay with the euro or leave.
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#8 kevinan108 on 18 May 12Volcker Rule- A rule in the Dodd-Frank Financial Reform bill that stops banks from making speculative investments that do not benefit its customers. It bans proprietary trading which is when banks use its own money to make risky bets.
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#9 kevinan108 on 18 May 12Dodd-Frank Financial Reform Bill- A bill that is intended to enforce new regulations on Wall Street to prevent the Financial Crisis from happening again. Many aspects of the bill only come into effect later on.
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#10 kevinan108 on 18 May 12Paul Krugman- Professor of economics at Princeton University and columnist at the New York Times. He is in favor of increased regulation of Wall Street
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#11 kevinan108 on 18 May 12Securities and Exchange Commission- The agency responsible for enforcing laws involving the stock market and Wall Street. the SEC was created in 1934 after the Great Depression.
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#13 kevinan108 on 18 May 12Jamie Dimon- CEO of JP Morgan since 2005. He has been a vocal advocate for less regulation on Wall Street. Recently, JP Morgan has lost $3 billion in derivatives trading. The FBI is investigating his company
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#14 kevinan108 on 18 May 12Ina Drew- Chief Investment Officer of JP Morgan. She was one of the few women in leadership roles on Wall Street. She was fired after her actions cost JP Morgan $3 billion dollars. She may receive $14.7 million in termination compensation