You Try to Live on 500K in This Town

In 1988, Michael Douglas won an Oscar for playing Gordon Gekko in Oliver Stone's "Wall Street." On Wednesday, Douglas returned to the New York Stock Exchange to ring the closing bell and deliver a speech on behalf of The Windward School, where his children attend. 

CAIRO — Two years after Egypt’s revolution began, the country’s schism was on display Friday as the mainly liberal and secular opposition held rallies saying the goals of the pro-democracy uprising have not been met and denouncing Islamist President Mohammed Morsi. With the anniversary, Egypt is definitively in the new phase of its upheaval.

In a bid to control Wall Street excesses, US President Barack Obama has unveiled a 500,000 dollar cap on salaries of executives of firms getting a US taxpayer bailout.

Here is a guaranteed way to get paid well if you work on Wall Street. Find a best friend at a competing bank or hedge fund and take opposite sides of the same large bet. In one year’s time one of you will have a huge profit and get paid well. The other person will have lost and perhaps be fired.

Today, New York's Office of the Comptroller put out its annual Wall Street compensation report for 2012. It's an important report because it gives the state and city and understanding of what kind of tax revenue they can expect from some of the city's highest earners.

Allison Schrager offers what is I think my least-favorite economic argument, the regional variant of the old people who buy expensive houses aren’t rich because their houses cost so much switcheroo:

The 451 Group: Inorganic Growth submits: By Brenon Daly