New Regulations, Wall Street Bonuses, And The Economy

Even if you're not the economic type, at least skim this article on how Wall Street is adjusting to new regulations and new realities.  It's an interesting overview of what's going on, and codifies a few trends I've been wondering about (roughly, I think Wall Street really is in a kind of existential crisis and people don't fully get the impact of new regulation).

My favorite money quote:

“If you’re a smart Ph.D. from MIT, you’d never go to Wall Street now,” says a hedge-fund executive. “You’d go to Silicon Valley. There’s at least a prospect for a huge gain. You’d have the potential to be the next Mark Zuckerberg. It looks like he has a lot more fun.”

Awesome.  Come on over guys, I know a great few restauraunts to take you to while you go and make a real, productive business.  Also, I could use another roommate.

Steven Savage