Michael Lewis Rips Stressed Wall Street Titans

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June 16 (Bloomberg) -- Bloomberg’s Jason Kelly reports on Author and Bloomberg View Columnist Michael Lewis’s latest column. Kelly speaks on Bloomberg Television’s “In The Loop.” (Source: Bloomberg)

It is easiest to make fun of the wealthy 1%. in the latest common, -- latest column, he writes -- "which might be real alive -- real-life for some titans." he had to go so far as to give up golf.

Apparently wall street guys have been fleeing their game because their anxiety -- they feel like they need to text all the time and they cannot free up their hands to swing up the club.

For more i am joined by jason kelly of bloomberg link.

He is the author of the book, "the new tycoons." it is along the lines of what michael was talking about here.

I know he is being tongue-in-cheek but there is a little reality.


Talk about the fact that there picking up -- we hear a lot about these guys doing iron man's and working off this stress because they do not have time to play cough anymore.

-- plate golf anymore.

They are starting to leave wall street as well.

You hear everything from starting your own restaurant to opening a food truck to going out to silicon valley and beginning tech companies.

We were out in silicon valley last week for the next big thing conference.

It is amazing to hear the finance guys and the young people -- the cool thing to do is start your own tech company.

This is sort of the holy grail at this point.

Wall street is evil and silicon valley is good.

I want to read the part where michael lewis talks about this trend you were mentioning.

He wrote that all bankers have been killing themselves.

Young bankers burned out by their 90 hour per week job have been working in droves for start ups.

Hedge fund managers are saying the stock market feels so dangerous that they are selling their holdings and going into cash.

It is hard to start a tech startup.

That is one thing that was coming back in the venture capitalist.

This is a living hell when you are starting your own tech company.

One part i was laughing out loud, it is the story recommendation michael lewis had for any wealthy 1% to cope with distress.

Identify people in worse shape created find the humor in things.

What have you heard from wall street titans about how they are coping?

As i talk to the private equity guys, they are only having to cope to a certain extent.

This corner of wall street that is still relatively secretive seems to be the bass -- the last bastion of the masters of the universe.

We heard the big five equity giant, the fifth billionaire has been unveiled.

Presumably that is how he deals with some of the stress.

In private equity we have seen tim geithner ago there.

Jpmorgan is now going to be the copresident of carlisle.

They have a transitory stop on their way to owning a food truck.

They have continued to come down for these wall street bankers.

I think we have a chart for how bonuses have done.

What you are seeing in all seriousness is government regulation in the wake of the financial crisis.

Even those guys are facing increased scrutiny.

The screws are being turned if only slightly on some of these guys.

Thank you so much for joining us.

This text has been automatically generated. It may not be 100% accurate.


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