Yesterday, Max Baucus (D-MT) and Dave Camp (R-MI) introduced a tax reform bill that would force a new asset tax on big Wall Street banks, and naturally Wall Street isn't having it. The summary of the bill alone is about 200 pages, but for the Street, it all boils down to one simple, nasty debate that's been raging since the financial crisis. Either Wall Street banks are still too big to fail or they're not.
Eliot Spitzer has already proven that he can turn a less-than-sexy political office into a national conversation. If he wins the race for New York City Comptroller, you can expect him to do it again. It will be a new platform, but his foil will remain the same. As NYC Comptroller Eliot Spitzer would still direct his energies at reforming Wall Street politically and culturally.
The dearth of women in high-powered positions in the financial industry is far from secret. For the last two decades, ideas regarding how to increase the number of women in the corner office have bounced around think tanks, business schools, and even the industry itself. The notion that women simply do not have the hard edge necessary to succeed in finance is certainly a thing of the past.
Here's the deal: Summer internships on Wall Street are harder to get than ever right now. Banks are still figuring out their post-financial crisis business model, and that means they're are still trying to figure out how many employees they can really support. For that reason, getting hired after your internship is even harder than ever as well.
The market is closed on Monday, but that doesn't mean you have to take a day off from your love of Wall Street (obviously). With you free time, catch up on the classics or maybe see something new. Either way, there are plenty of awesome movies (from Wall Street to Bonfire of the Vanities) to keep you in the Wall Street mindset.