"Wall Street — and the fantasyland it helped create in New York — was likely to shrink even without a credit crisis.
'I hate to use the phrase ‘masters of the universe,’ but they’re not in investment banking anymore, they’re in hedge funds,' Mr. Wolfe said. And 'hedge funds don’t need glass office towers. They can run $15 billion with 25 people' in the leafy suburban sanctuaries where their directors live.
'The new Wall Street,' he said, 'is Greenwich, Conn.'
In a possible indication of night life to come, Mr. Gunderson and his girlfriend invited friends to their West Village apartment last week to 'party like it’s 1929.'"