Wall Street Sees ‘No Exit’ From Financial Woes

[dkf]

Wall Street executives, facing demonstrators camped for a fourth week in New York’s financial district, say they’re anxious and angry for other reasons.

An era of decline and disappointment for bankers may not end for years, according to interviews with more than two dozen executives and investors. Blaming government interference and persecution, they say there isn’t enough global stability, leverage or risk appetite to triumph in the current slump.

“I don’t think it’s a time to make money -- this is a time to rig for survival,” said Charles Stevenson, 64, president of hedge fund Navigator Group Inc. and head of the co-op board at 740 Park Ave. The building, home to Blackstone Group LP Chairman Stephen Schwarzman and CIT Group Inc. Chief Executive Officer John Thain, was among those picketed by protesters yesterday. “The future is not going to be like a past we knew,” he said. “There’s no exit from this morass.”

An anemic global economy, the European sovereign debt crisis, U.S. unemployment stuck above 9 percent and swooning stock markets have sapped the euphoria that swept Wall Street in 2009 as it rebounded to record profits after the credit crisis. The benefits of a $700 billion taxpayer bailout and $1.2 trillion in emergency funding from the Federal Reserve have faded. Next week Goldman Sachs Group Inc. (GS) may report its second quarterly loss per share since going public in 1999, according to the average estimate of 26 analysts surveyed by Bloomberg.

http://www.bloomberg.com/news/2011-10-12/wall-street-sees-no-exit-from-financial-woes-as-bankers-fret.html

[grasswire]

1. wahhhh! government interference and persecution!

Wahhhhhhhhh!

[mmonk]

2. .

:rofl:

Wish I could suffer like they do. They have a bought government and much of the wealth.

[Cali_Democrat]

3. Leave Wall Street alone!

[SixthSense]

4. There is an exit

it doesn't lead to a world where worthless Wall Street bankers can suck everyone else dry, though

[Sherman A1]

6. Precisely

In my opinion that exit leads straight to a nice Federal Facility on a large island in the Caribbean known for it's sunny climates and "water sports".

[ThomThom]

9. Tell him to take the roof exit

and jump

[AverageJoe90]

5. Greedy bastards.

Any honest person still in Wall Street really should bail out now before the going gets tough. REAL tough.

[SpiralHawk]

7. "Thy Beastly (R) days are numbered." - Michelle BachBagger (R)

"The Pizza Pie of Destiny shall bring thee WALL-STREET ONE-PERCENTERS (R) a mOmeNt of high-cholesterol reckoning with the 9 . 9 . 9 of a truly cheesy fate. Wink wink. Smirk."

- Michelle BachBagger (R)

[blindpig]

8. Capitalists blues....

They can blame what they want, it is the operation of Capitalism itself which is the source of calamity and they and their fellows in pursuit of their own agendas which perpetuate the crisis but you will not see any of them volunteering to get off of the merry-go-round. They are gonna have to be pushed....

[socialist_n_TN]

10. What you said, pig, what you said

:thumbsup:

[myrna minx]

11. The poor plight of the hedge fund managers!

:cry: