Wall Streeters are known partiers. Nothing wrong with that, as long as its done in moderation of course.
It just so happens, though, that Wall Streeters are also known for their love of excess.
All that combined makes for why some of the most legendary stories about the Street have to do with drug abuse. The word is that those legends are still being made today.
So we thank The Guardian’s Banking blog for grabbing a quick explanation as to why that is and what the drug scene is looking like these days (in London at least). An ex-banker in The City gave journalist Joris Luyendijk his take, and it sounds totally reasonable.
“It’s interesting how recently we’ve seen the rise of designer drugs, like ecstasy, and designer financial products, like derivatives.
“So why the drink and the drugs? There was the client entertainment, but there was also an urgent need on my part to forget, to pretend I was happy. To be sure, I didn’t take them every day. Almost no one does because you won’t last. It’s Thursday and then the weekend. Look around you, all these people coming out of work at five or six. They will drink and drink and drink until the last tube. No dinner, and that’s how they spend their evening. You can tell from their bloated faces.
“You’re right, it’s easier to get people talking about drugs than about insider trading…
“When I started out, our group of trainees fell into two groups. For people like me it was a job, but for others it quickly became their life. Some started using the same expressions as their bosses, the same body language.. Then there was us, resisting all that and needing more and more drink and drugs not to feel our misery. The programmed lot did not go for the drugs. They didn’t need to. They were addicted to fitness though.”
There you have it folks, if you’re not addicted to drugs, it’s something else. Fitness maybe. We know which we’d prefer.