Wednesday, April 28, 2010

For Some on Wall St., Hearings Were Background Noise

http://finance.yahoo.com/news/For-Some-on-Wall-St-Hearings-nytimes-3134555438.html?x=0&sec=topStories&pos=4&asset=&ccode=


Wall Street might not be watching, but Main Street is, and we're questioning more and more everyday the legitimacy as well as the need for the elites financial institutions, and their presence in our government.

Maybe it was the deepening debt crisis in Europe. Maybe it was the rare treat of a Mets-Dodgers doubleheader starting just before happy hour. Or maybe it was the lack of a "Holy cow" moment.

Whatever the reason, there seemed to be plenty to divert the attention of bankers and traders from the day's scheduled distraction of the Goldman Sachs hearing in the Senate on Tuesday, The New York Times's Andrew Martin and Eric Dash report.

"I'm watching it with just with passing interest," Charles F. Gergel, a 48-year-old corporate lawyer, said during a lunchtime cigarette break near his office at 44 Wall Street. "I'm not glued to the TV."

Of course, there were plenty of exceptions. Many on Wall Street could not talk on the record because of company policy, but said they were following the developments. A few said that they were closely monitoring the proceedings either because of their relationships with Goldman or the implications for the sector.

Interest in the hearing was said to be far more intense on mortgage trading desks