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Wall Street Research Paper

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The history of Wall Street and its position as Financial Center of US and the World
The Wall Street based New York Stock Exchange is owned by Intercontinental Exchange and regulated by SEC, the Securities Exchange Commission. According to FXCM, New York Stock Exchange boasts a market capitalization of $16 trillion, the largest in the world. As of 2013, there about 1900 companies listed on the exchange, 1500 of whom are US companies. The daily trading volumes averages $169 billion a day. The exchange was established back on 17 May 1792 by 24 stockbrokers based in Wall Street New York City. The stock brokers met under the Buttonwood tree and signed a Buttonwood Agreement, which among other things vouched for the formation of centralized exchange …show more content…

The telephone communication installed in the building made it easy for investors to speak directly to brokers to discern their trades. The term Wall Street is widely used today to refer to the New York City financial district. The 8 block street runs from South Street on the East River all the way to Broadway. Aside from the NYSE, the other markets based here include NASDAQ, NYMEX and AMEX. According to Stock Market Laws, the history of Wall Street can be traced to 1626 when Europeans beg settling in the lower Manhattan area in NYC. The name is believed to derive from the earthen walls that were laid to mark the boundaries of New Amsterdam …show more content…

Lower Manhattan is divided into 3 main districts, the financial district, seaport district and south of the World Trade Center. Some of the landmark buildings that dot Wall Street include The Trump Building, 55 Wall Street, Federal Hall National Memorial building, the Deutsche Bank Building and the NYSE building at the corner of Broad Street. In 2008, an estimated indicated that close to 200,000 people were employed by Wall Street firms. Another statistics released in 2006 indicated that close to 10% of the city’s work force and 30% of the tax revenue stemmed from the financial services

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It is now a single story building with recessed windows, polygonal roof, squared office rooms and geometrically changed designs on the North side. It was also known as Haymarket Square, where farmers meet to bring produce to the town. When finished in 1849, a jail was put in the basement, along with butcher stalls and farmer stands. Once finished in the place of architectural, political and historical significance head northwest on Main Street towards York Street. Then turn right onto York Street.

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Wells Fargo has been in business for over 160 years and was founded on March 18, 1852, by Henry Wells and William Fargo. The company opened its first office, in San Francisco, on July 1852. Wells Fargo served the West with banking needs, which included gold and paper bank drafts, and offered quick delivery of gold or other valuables. In1855, the first of many financial dilemmas took place when a drought made it impossible to mine for gold, and this caused almost 200 businesses in San Francisco to fail, but Wells Fargo didn’t fail, they prospered. In the early1860s, Wells Fargo acquired almost all the stage lines from the Missouri River to California, giving them a monopoly on transcontinental delivery services.

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Bernie Madoff was an American financier and former chairman of the NASDAQ stock exchange. He ran one of the largest Ponzi schemes in history. He built an elaborate scheme that lasted for decades, fooling investors and experts alike. To start, the promise Madoff enticed investors with the promise of consistently high returns. He claimed to have a secret strategy that allowed him to generate steady profits, even during market downturns.

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The wall presented itself as an obstacle, hindering people's view of beautiful days, forcing vehicles to turn around to go on the long roadway to the city, visitors never attempting to view the complex because of the long path, and then the city's allowance of the building to become rundown. For example, Etta Mae Johnson's hesitancy to walk down the alley due to the recurring theme of when someone moves into Brewster Place it is very hard to find a way out, a symbol of poverty, “If I walk into this street, she thought, I’ll never come back. I’ll never get out” (Naylor 73). Another example, Kiswana’s mother referred to it as a “dreadful wall” (Naylor 79), wondering what lay behind it. This particular symbol is recurring because at some point every woman has gone through hardship and they have faced something they thought they'd never overcome, the wall represents hardship and its demolition in the last chapter represents freedom and strength as each woman has finally overcome their

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Bernie Madoff is known for a scandal that rocked Wall Street and caused financial tremors around the world. Bernard Madoff’s alleged Ponzi scheme cost folks around the world billions. Bernie Madoff stole approximately $65 billion from people. When this scandal first broke through to the public people that Bernie had stolen money from would show up at his front door and demand their money back. Many people say that Bernie pulled off this Ponzi Scheme very brilliantly.

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The movie Wall Street was filmed in 1987 by Oliver Stone. The cast includes Michael Douglas, Charlie Sheen, Daryl Hannah and Martin Sheen. The film was made as a tribute to Stone's father, who was a stockbroker during the Great Depression. The characters within the movie were modeled to represent real life brokers and businessmen. For example, The character of Sir Lawrence Wildman was based off of the prominent British financier and corporate raider Sir James Goldsmith.

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History Today is a UK-based history magazine. Article was written by Frederick Taylor who is a British novelist and historian. • Purpose – This article’s purpose is to explain what the Wall meant, not only to the people in Germany, but to the rest of the world. Its purpose is to question common beliefs about the Berlin Wall. • Value – This source is a secondary source and is valuable to my research question because it goes against the norm and makes you think.

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