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Danny Moses, known for predicting the 2008 financial crash, warns that cuts to federal spending, particularly under Elon Musk's leadership, could significantly harm the economy. He emphasizes that reducing government expenditures affects not only federal workers but also private sector contracts, potentially leading to a market slowdown and decreased consumer confidence. As uncertainty grows, especially with Trump's tariff policies, small businesses and legitimate contractors may face tough decisions ahead.
Trading firms like Jane Street and Citadel Securities have surged ahead of traditional investment banks, capitalizing on electronic trading advancements and regulatory changes. With average employee pay at Jane Street exceeding $900,000 compared to Goldman Sachs' $340,000, these firms dominate markets, handling vast trading volumes and reshaping Wall Street's landscape. As they expand into various markets, they pose new regulatory challenges, highlighting a shift in the financial ecosystem where banks must adapt to a more competitive environment.
Michael Lewis
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economic expert warns of recession risks from federal spending cuts
17:25 24.03.2025
trading firms rise as new leaders in wall street market dynamics
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