New York State Comptroller Diener Polly December 15 released a report showed that three quarters of 2010, 21.4 billion Wall Street profits of enterprises, far beyond the previously estimated 190 billion dollars. Diener Polly expects full-year earnings on Wall Street this year is expected to reach enterprise 28.7 billion, second only to 2009, the second-best year for.

Than-expected profits on Wall Street enterprises are the main reason for an unexpectedly large growth in business performance self-driven. But analysts believe that, as the financial regulatory reform step by step, large financial institutions will be forced to exit the proprietary trading business, so now the business is likely to bring huge profits for Wall Street, “The Last Supper.”

Towards the second best year for Wall Street

In 2007-2008, the Wall Street firm had set a record 54 billion U.S. dollars in losses. The giant investment bank during the bankruptcy of Lehman Brothers, Merrill Lynch and Bear Stearns have been acquired by competitors, the global financial crisis erupted. Then huge amounts of money in aid the U.S. federal government, the Wall Street financial institutions have been large-scale return to profitability in 2009, achieved record profits of 61.4 billion U.S. dollars, almost had the best year of 2006 more than three times the level of profitability.

But with the gradual withdrawal of government assistance measures, the level of corporate profits this year, Wall Street began to decline: profit of 10 billion U.S. dollars in the first quarter, second quarter to 38 billion U.S. dollars, third quarter, rebounded to 73 million. External expectations, Wall Street firms in the fourth quarter performance will be better than the previous two quarters. On the whole, although the level of full-year earnings dropped significantly compared with last year, but history will record the second best performance.

Medina Police released report also shows that Wall Street paid bonuses in 2010 than last year will be reduced, but the per capita money may be due to the reduction of employees has increased. In 2009, Wall Street paid a total of 20.3 billion U.S. dollars in bonuses, compared with full-blown financial crisis, 17% higher in 2008.

Reported that the phenomenon of job loss on Wall Street has been a turnaround this year in August, the month of Wall Street to reduce 30,900 jobs, followed in September and October increased by 3,000 jobs. But the report also believes that the financial industry is undergoing restructuring, “is hard to say Wall Street has begun to recruit a sustainable operating platform, the.”

Will become stricter financial regulation

According to an official New York State Audit Office said the Wall Street firm to achieve than-expected profit proprietary trading revenues was mainly due to a surprisingly strong performance. But analysts believe that the upcoming regulatory reform will force financial institutions to withdraw from large proprietary trading, so for them, the profits from this part of the business may have a “Last Supper.”

The first quarter of this year, the Wall Street giant’s earnings report generally shows that self-service wind and water as a major contributor to profit growth. However, according to July through the U.S. financial regulatory reform bill, large financial institutions will be banned from proprietary trading, including Goldman Sachs, Morgan Stanley and other Wall Street giants, including a number have since started to peel proprietary business.

Analysts said the interest rate in view of the future income will shrink over the previous two years, while decline in customer transactions, bank profit growth is expected to receive threats. In this case, monitor the new regulations to force banks to raise their capital adequacy ratio, which will be transferred to the derivatives clearing transactions, the company will make the bank “continues to recover the road becomes more difficult.”

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