DiNapoli Predicts $15 Billion in Profits for Wall Street

According to an annual report on the securities industry by state comptroller Thomas DiNapoli, Wall Street is on track for $15 billion in profits.

The stock exchange reported $10.5 billion in profits the first half of the year, the fifth-strongest start in history.

The 8-page report cautioned that a weaker economy, a failure to avoid the impending fiscal crisis or some other adverse development could quickly erode profits in the second half of this year.