Wall Street bonuses to be flat, reduced or in the case of 20% of its employees, non-existent. Dodd/Frank has squeezed the profitability out of the industry and the law’s effects are only just beginning to be felt: Hiawatha Warren, scourge of Wall Street, has been whooped into the Senate by
liberals regressives aghast at the very idea of someone else making money (new money – if your grandfather did his looting in the early 20th Century well that’s alright then – who else will keep Nantucket home values up?) and your children will be delighted, as they’ve been taught to be by their teachers, whether in public or that private school costing $40,000 per year per adorable towhead.
Wonderful news, of course, but Greenwich homeowners hoping to sell their houses might temper their enthusiasm a bit because – here’s a little-known-secret – those Wall Street bonus babies are the very people who have been purchasing what your friends and neighbors have been selling at such magnificent levels. The music has faded, the horses are slowing to a halt and you, my friend, are still stuck on the pony. Bad luck, eh?