What’s the latest sign that Wall Street traders are really beginning to feel the pain? They’re cutting back on sailing. NYT:
[T]he fleet of financial professionals that turned out to compete in this week’s fifth annual Hedge Fund Regatta in New York was a bit thinner than last year. Only 17 teams entered in the contest, down from 30 teams a year ago, when the markets were just starting to go haywire because of the mortgage mess.
The New York Sailing Club runs the event and charges a $2,000 entry fee. Proceeds are donated to charity. Ironically, Lehman Brothers, perhaps the most troubled of the big investment banks fielded a team for the first time, while Goldman Sachs and JP Morgan, usually mainstays, were absent.
Business Insider Emails & Alerts
Site highlights each day to your inbox.