Thursday, 03 February 2000
.....
Sorry, can't give a direct link to those bloodsuckers at the Wall Street Journal's pay site.
But they warmed some cockles today (Feb. 3) with a story by Gregory Zuckerman and John McKinnon. Seems that now the federal government is running in the black, it is issuing far fewer treasury notes.
That's great for all of us who are sick of seeing one-fourth of our income taxes go to the lending classes. But not so swell for the Wall Street firms that built up big bond trading practices.
But now that great money machine is being scaled back. Fabled firms have had to downsize. Lehman Brothers Holdings Inc., which as part of the old Shearson Lehman Brothers employed 56 traders and salespeople in its Treasury operations, now has fewer than 30 in the group. Japan's Nikko Securities International, which led a rush by foreign firms to become "primary dealers" in Treasury debt, de-emphasized the business a year ago.
All together now: Awwwwwwwww.
This is Anyone for Trader Aid? <http://monkeyfist.com/articles/181>