Spanish translation: la ofensiva de wall street/ estar en la mira de wall street
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:
Wall Street outpost
la ofensiva de wall street/ estar en la mira de wall street
English to Spanish translations [PRO] Bus/Financial - Marketing / Market Research
English term or phrase:Wall Street outpost
Joseph Jett joined Kidder Peabody, a venerable Wall Street investment
bank owned by General Electric, as a trader in 1991. He was good at his
job and rose rapidly, being appointed head of government-bond trading
in 1993, when he was named the firm’s “man of the year”. That year he
was awarded $9m in bonuses based on $150m in trading profits. But in
April 1994 he was fired for allegedly perpetrating an elaborate scam
involving the invention of $350m of phantom bond trades to boost his
bonus and to disguise losses. Jett protested his innocence and was partially
vindicated by a court ruling in 1998 that cleared him of the securities
fraud charges, although he was sanctioned for lesser “books-andrecords”
violations and ordered to pay a $200,000 fine and return $8m of
bonus money to Kidder Peabody. The long-running case generated much
publicity, partly because Jett was one of the few black traders on Wall
Street. ge was so exasperated with its wayward Wall Street outpost that
it sold it later in the year to PaineWebber, taking a loss of $800m.