Brokers Report 20 Percent Decline in Business with SAC CapitalVW Staff
FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that Wall Street Brokers have seen a “fairly significant decline in the amount of business” they do with SAC Capital and that it’s “declining around 20 percent” since the indictment.
On whether Wall Street Brokers have seen a decline in business with SAC Capital:
“We are a couple of months into the indictment, a fairly significant decline in the amount of business that brokers do at SAC – remember brokers generate huge commissions from these guys from the trading that SAC does, but it’s declining. What we are hearing, it is declining around 20 percent from where it was post, pre-indictment.”