One devastating picture of a Wall Street trading floor says it all

JamesL

JamesL

http://www.businessinsider.com/ubs-trading-floor-in-connecticut-2016-9

We've written plenty over the last few days about the brutal conditions on Wall Street.

More than 10,000 front-office jobs have been cut across the top 10 banks since 2011, and that number could swell, as 2016 revenues have disappointed. There are rumors flying around about fresh cuts in the next couple of months.

And this image, tweeted by Liz Ann Sonders, chief investment strategist at Charles Schwab & Co., really says it all.

ubs.png
 
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The Volker Rule required all the banks to shut down their proprietary trading operations. The trading is still going on, the jobs still exist, they just aren't at UBS or in that particular building anymore.
 
JamesL said:
http://www.businessinsider.com/ubs-trading-floor-in-connecticut-2016-9

We've written plenty over the last few days about the brutal conditions on Wall Street.

More than 10,000 front-office jobs have been cut across the top 10 banks since 2011, and that number could swell, as 2016 revenues have disappointed. There are rumors flying around about fresh cuts in the next couple of months.

And this image, tweeted by Liz Ann Sonders, chief investment strategist at Charles Schwab & Co., really says it all.

ubs.png
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I expect the usual suspects are alright though.
 
This UBS thing (and a similar one RBS built across the street) was retarded in the first place, so good riddance. It's just one of the things that Fred the Shred (and his UBS equivalent) has to answer for.
 
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