Wall Street generated $8.7 billion in profits in the first half of 2014, down 13% from a similar time last year, suggesting "broker/dealer operations of New York Stock Exchange member firms" profits may be lower than last year's, according to a
"Wall Street remains very profitable, but earnings may be constrained this year as the industry pays a price for behavior that contributed to the financial crisis," DiNapoli said. "While the securities industry in New York City has a smaller employment base than before the financial crisis, it remains an important part of the economy and a major contributor to state and city budgets."
Wall Street profits dropped 30% in 2013 to $16.7 billion on "higher noncompensation expenses," including legal settlement, DiNapoli said in a release.
