BloombergBloomberg

Wall Street’s big banks score $1 trillion of profit in a decade

By Max Abelson and Hannah Levitt

27 Dec 2022 · 8 min read

Editor's Note

It's not just the scale of Wall Street's earnings that's remarkable, according to this Bloomberg story. It's also the industry's unerring ability to power throughs scandals and then thrive once more.

Malick Diop felt something shifting on Wall Street.

He'd joined Morgan Stanley in the grim days of 2009, when big banks were trying to pay back taxpayer bailouts and deflect public fury. But four years later, the ire was fading and ambition was the order of the day.

Sign in to informed

  • Curated articles from premium publishers, ad-free
  • Concise Daily Briefs with quick-read summaries
  • Read, listen, save for later, or enjoy offline
  • Enjoy personalized content