Skip to main content

Black Listed News
Trending Articles:
Trending Articles:

Wall Street reportedly raked in nearly $27.6 billion during COVID-19 peak

Published: October 26, 2020
Share | Print This


Source: nypost

Wall Street made a killing during the peak of the coronavirus pandemic — at a time of sky-high statewide unemployment that has put 500,000 Big Apple residents out of work.

The securities industry raked in a massive pretax profits fortune of $27.6 billion for the first six months of 2020 — nearly eclipsing 2019’s profit total of $28.1 billion.

That’s an eye-popping 82 percent increase compared to the same six-month period last year, according to a new report released by state Comptroller Tom DiNapoli.

DiNapoli tied the gold rush to a frenzy of factors: the $2.4 trillion federal stimulus package, interest rates cut to zero and reduced borrowing costs — plus frenetic trading patterns posing a massive disruption to the financial markets.

“An injection of federal stimulus money, plummeting interest rates and rising volume in trading drove profits dramatically upward to a level hard to imagine in March,” explained DiNapoli.

Read More...

Share This Article...



Image result for patreon

You Might Like


Image result for patreon


PLEASE DISABLE AD BLOCKER TO VIEW DISQUS COMMENTS

Ad Blocking software disables some of the functionality of our website, including our comments section for some browsers.





Login with patreon to gain access to perks!

SIGN UP TO GET BLACKLISTED NEWS DELIVERED RIGHT TO YOUR INBOX

Enter your email address:




More Blacklisted News...

Blacklisted Radio
Blacklisted Nation
On Patreon
On Gab
On Twitter
On Reddit
On Facebook
Blacklisted Radio:
Republic Broadcasting
Podcasts on Youtube
Podcasts on Demand
On Iheart Radio
On Spreaker
On Stitcher
On iTunes
On Tunein

Our IP Address:
198.245.55.242

Sponsors:
Garden office

good
longboard
brands


Advertise Here...


Libertas Bella

Get your 2nd Amendment Shirts
over at Libertas Bella







BlackListed News 2006-2019
Privacy Policy
Terms of Service