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Wall Street ends crazy year with existential angst and big bonuses

Bloomberg12/26/2021 9:46 PM GMT+08  • 6 min read
Wall Street ends crazy year with existential angst and big bonuses
Wall Street knows much of its windfall is coming from “speculative nonsense."
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As Goldman Sachs Group Inc. boss David Solomon chatted at a November dinner for retired partners, he mentioned that the firm will be among the country’s most profitable big public companies this year. But the veteran mergers banker Geoff Boisi was struck by how muted the excitement has been.

“I don’t know if malaise is the right word — it’s this uncomfortable feeling,” said Boisi, who left Goldman in the 1990s, became a vice chairman of JPMorgan Chase & Co., and has run his own firm, Roundtable Investment Partners. “People are more unsettled and ill at ease.”

He wasn’t just speaking about the mood that night at The Shed, a US$475 million arts centre in Manhattan’s Hudson Yards.

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