Gabriel Sherman: The End of Wall Street As They Knew It | New York
After surprisingly successful financial reform, public vilification, and politics that have turned against them, the Masters of the Universe are masters no longer.
Not a terrible piece by Sherman about Wall Street since Dodd-Frank. But you’ll have to endure a few incredibly tone-deaf quotes from anonymous bankers that will leave you scratching your head. A choice example:
“The Durbin rule was the worst rule,” says an executive at one of the major banks. “Debit cards had nothing to do with the crisis. The fact is, we give free stuff to our customers. Now we’re going to have to be the bad guy.”
