• What is “Wall Street”?

    by  • February 28, 2010 • politics & money

    A simple distinction from “The Economics of Contempt”

    In general, when I talk about “Wall Street,” I’m referring to the major dealer banks (both domestic and foreign) and the two big custodian banks. Specifically, I’m referring to the following institutions:

    1. Goldman Sachs

    2. Morgan Stanley

    3. JPMorgan

    4. Deutsche Bank

    5. Barclays

    6. BofA-Merrill Lynch

    7. UBS

    8. Citigroup

    9. Credit Suisse

    10. SocGen

    11. BNP Paribas

    12. RBS

    13. Wells Fargo/Wachovia Securities

    14. Nomura

    15. HSBC

    16. BNY-Mellon

    17. State Street

    [...]

    When you hear people in the industry say things like, “the Street is short 2YR swaps,” they’re generally talking about these institutions. They’re not talking about hedge funds, or PIMCO, or boutique firms that have offices in lower Manhattan. It’s really just a relatively small group of major dealer banks.

    via Economics of Contempt: Defining “Wall Street”.

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