Bloomberg, December 18: Holiday spirits across Wall Street are being spoiled by anxiety that markets are getting uglier, frustration over the industry’s own miserable stock prices and fears that a recession will finally hit. Another explanation for the tempered mood: Bankers are savvy enough not to flaunt record-setting profits a mere decade after taxpayers bailed them out during the financial crisis.
“Some it of it is real, some of it is strategic,” Karp, who started the advisory firm Cornerstone Capital Group after spending decades at global banks, said about Wall Street’s self-deprecation. There’s genuine nervousness and fear, she said, but there’s also a widespread reluctance to “show how amazingly well you’re doing when people are starving and dying.”
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