The New York Times writes: Giving away $56.5 million in a night would strike most people as extravagant. But to the tycoons of modern finance, it seems a bit low key.
At the 2008 Robin Hood Foundation benefit this week, auctiongoers donated that much money to charity. But many of the market wizards are making less these days — and they are giving away less, too. Robin Hood’s haul was down 21 per cent from last year.
After years of jaw-dropping excess fuelled by the hyper-wealth of Wall Street, the gala, held Tuesday night at the Jacob K. Javits Convention centre, reflected the somber mood on Wall Street. Read more from the New York Times.
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