According to John Carney the economy is slowing. The markets
are volatile. Trading glitches bedeviled the biggest IPOs in recent memory. A
huge bank has suffered an unexpected loss.
It’s shaping up to be another rough summer on Wall Street—in more ways
than one.
It’s not just that markets seem to be entering their third
consecutive summer slump. If you listen closely enough to conversations among
Wall Streeters, you’ll hear a different kind of complaint.
“We really haven’t had one good summer since 2006. No one
can relax on the beach—again!” an executive at one of the best-known private
equity firms said on a recent evening, while waiting for a fourth martini at a
once-fashionable midtown bar.
It was a three-martini complaint. Nothing that you’d
ordinarily bring up around strangers, certainly not in front of a reporter. The
public isn’t exactly sympathetic to the woes of wealthy Wall Streeters these
days.
“Go down the years. Everything was getting unhinged summer
of 2007. The next year was bananas. Then you get the great depression of 2009,
when everyone lost their jobs or almost did. The past two years looked good
until May, then everything goes haywire,” he explained….
Boo hoo! For more of the same go to http://www.cnbc.com/id/47725606
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