bonfires
Financial Armageddon Possible Tomorrow, Says Tom Wolfe
Ryan Tate · 09/29/08 03:24AMLast week the Observer, Tom Wolfe said the truly rich would be protected from the Wall Street meltdown because all the smart guys had long since decamped for hedge funds, leaving investment banks staffed by "real second-raters." This weekend in the Times, the author of Bonfire of the Vanities clarified that statement by adding that elite hedge funders may still be ruined, just not until September 30, that is to say tomorrow. In other words, these strapping Masters of the Universe are so ingenious they staved off the sad fate of i-bankers for all of maybe 14 extra days: