Wall St. Dealmaker Wasserstein Dead at 61

Thinks he doesn't deserve to die in prison

(NEWSER) - There are probably at least a few former investors who wish this was literal: Bernie Madoff says the judge in his Ponzi scheme trial made him the "human piñata of Wall Street" when he dished out a 150-year sentence. Madoff tells the New York Times Judge Denny Chin's ruling was excessive. "Maybe the judge felt, ‘Well, he’s 70 years old, so even if I give him 20 years, he’s going to be 90 years old,’" says Madoff. “But quite frankly, there’s a big difference with dying in prison, you know, and dying outside with your family." More»

Want to retain your honor? Don't get into these professions

(NEWSER) - Goldman Sachs got you convinced Wall Street is the most corrupt place to work? Not quite: The Daily Beast worked with an anti-corruption research organization to determine the 17 most corrupt industries in America. The top five, along with representative examples:

1. Utilities: FirstEnergy allegedly covered up a reactor head that was ready to blow, then spent more than $33 million to avoid criminal charges.
2. Wall Street/Securities: Two words: Bernie Madoff.

Year-end payout breaks down to $300-$500K per employee

(NEWSER) - Bank of America will pay a total of $4 billion to its traders and investment bankers for their work in 2009—or something between $300,000 and $500,000 per employee. That means those responsible for the bank’s $23 billion haul in those sectors will receive about 19% of the profit. Roughly 25% of the payout will be in cash, with the rest in deferred restricted stock or cash depending on the bank’s future performance. More»

Lazard chief to go down as one of history's richest bankers

(NEWSER) - It'll take more than just death to stop legendary Wall Street dealmaker Bruce Wasserstein making money. The Lazard chief's death on Wednesday triggered the vesting of $188 million in stock options, swelling a fortune recently estimated at $2.2 billion and cementing his status as one of the highest-paid bankers in history. Wasserstein was ranked 147th on the latest Forbes list of the 400 richest Americans. More»

(NEWSER) - The CIA is looking for a few good bankers to track down millionaire bad guys and stymie financial terrorism, the New York Post reports. Ads on Bloomberg Radio ask money whizzes to use their “intelligence for the work of a nation.” The $160,000 salary will probably be a pay cut for most applicants—provided they still have a job. Interviews will be held at an undisclosed New York location. More»