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I've seen many explanations of what investment bankers actually do, but they've all been either bad or boring. I can sum up what we do in 2 words and 1 picture:Ari Gold.Investment bankers are agents, just like Ari.We don't create anything and we don't buy anything; we just sell things that aren't ours to begin with.And we make a lot of money doing that, thank you very much (more on investment banker salaries).Business::EntourageIf the business world were like Entourage, bankers would be the agents, private equity firms and large companies would be the studios, and companies would be the actors...

For all of President Obama's rhetoric about "fat cat" investment bankers who gambled the country into economic decay, he sure seems to have a larger soft spot for big Wall Street than for average Americans. After all, his latest push to "remedy" 9.8 percent unemployment for the masses is an extension of unemployment benefits. Meanwhile, his policies aren't just making Wall Streeters rich, as bonuses are expected to hit record highs this year. They're also likely This divergence ought to be a big story -- but don't bet on it: The establishment media have been largely silent amid the multiple...

All of a sudden, liberal pundits are getting worked up about the influence of Wall Street. From the concern expressed, one would think that the contributions from Goldman Sachs have suddenly dried up now that the Republicans have taken over the House of Representatives. Here's William D. Cohan in The New York Times worrying about "The Power of Failure." "Despite the very dire consequences of the latest financial crisis that Wall Street perpetrated on the world, America cannot seem to shake its infatuation with Wall Street bankers and traders. We continue to shower them with riches, prestige and glory... The...

For education and discussion only. Not for commercial use. NEW YORK (Reuters) - Wall Street investment bank Credit Suisse First Boston is poised to unveil another round of layoffs as early as this week, this time cutting into its upper echelon of bankers, sources familiar with the situation said. The layoffs, which sources said could include dozens of the firm's managing directors in investment banking, comes as new investment banking head Adebayo Ogunlesi looks to streamline costs and return the company to profitability amid a moribund merger environment. Company executives also hope it culminates the dramatic reversal of fortunes at...