John Carney at CNBC’s NetNet explains that amid layoffs, another “summer slump,” trading glitches, and the various other maladies plaguing our hard-working finance sector, the denizens of the financial district are having a tough time getting out to the beach this summer.
Which, of course, is a tragic change from what used to be.
One Goldman Sachs managing director, so fraught with distress, can’t even remember where his beach home is:
In the winter of 2006, the Goldman guy bought a house on Long Island’s North Fork. His wife and two daughters live there full-time during the summer. He expected to be able to spend weekends and perhaps two full weeks there during the summer. He said he’s barely spent any time there at all.
“I’m not even sure I remember the address,” he said.
One executive from a well-known private equity firm bravely spills the beans:
“We really haven’t had one good summer since 2006. No one can relax on the beach—again!
Another investment banker complained:
“I’ve got a share in Amagansett. I go out on weekends. But everyone just talks about work. People can’t kick back anymore.”
But there is good news, however: Wall Street seems to be slowly picking up some modicum of self-awareness. Emphasis ours:
“Oh my God. Are you going to write about investment bankers complaining about not having enough fun while they are sunning themselves in the Hamptons?” she asked. “That’s going to do our image a load of good.”
Maybe something closer to home would work. May we humbly submit Rockaway Beach?
Summertime Blues on Wall Street [NetNet]
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