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North Carolina-Based Financial Services Employees Girded Their Loins All Week For Nothing

As you may have heard, the Democratic National Convention was held in Charlotte this week. As you may have also heard, some people who figuratively work on Wall Street have had their feelings hurt over the last several years by President Obama, who they believe could have chosen his words more carefully when speaking about the industry. Bankers, traders, hedge fund managers, and pissant first-year analysts have emotions too, y’know, and calling them things like “fat cats” really stings, almost as much as the things you don’t say, like “S-U-P-E-R, That’s what Wall Street bankers are” every time someone wins a deal, or just shaking general pom-poms of encouragement in the lobby as people arrive every morning.

So you can imagine that those working in close proximity to the convention were particularly nervous for what brand of emotional torture the administration had in store for them, and came into the week with their guards on high alert.

Bankers in Charlotte, North Carolina, had prepared for the worst, bracing themselves for attacks from the Democratic Party’s convention stage and fencing in the entrances to guard their high-rise office towers against protests. What they got was mostly muted complaints from the Time Warner Cable (TWC) Arena’s podium and sparsely attended weekend demonstrations. In fact, perhaps the biggest news for Wall Street this week came when former Treasury Secretary Robert Rubin stepped backward into the Ritz-Carlton Hotel pool during a convention party attended by industry insiders.

The relatively light verbal assault relieved the financial sector’s allies, who have spent much of the past four years attempting to breach the divide between the Obama administration and financial titans. When the president mentioned it in his speech last night, he limited his criticism to one line: “we don’t want bailouts for banks that break the rules.” President Bill Clinton didn’t utter the words “Wall Street” in his 48-minute address this week, instead focusing more broadly on the policies that led to the economic downturn. The industry also got a pass in the keynote speech by San Antonio Mayor Julian Castro, and it merited not so much as a whisper in First Lady Michelle Obama’s remarks. “There’s not been a great deal of criticism,” said Tony Podesta, a Washington lobbyist who represents financial firms. “People were really offended by it, and so I think it’s reasonable to change the tone and talk about policy.”

Unless this is just a trap; an attempt to lure Wall Street into trusting him before pulling the same shit all over again, i.e. not ONCE thinking to pick up the phone when he knew you were working late to say “Honey, you’re doing a great job” or just calling to say “I love you.” Maybe at least analyze the situation with your girlfriends tonight before deciding whether or not to give him a second chance. With your heart.

Bankers Erect Fences To Deflect Attacks That Don’t Come [Bloomberg]

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107 Responses to “North Carolina-Based Financial Services Employees Girded Their Loins All Week For Nothing”

  1. Lowly Assistant says:

    Nice title heading, Bloomberg!

    -Guy with a dirty mind, wearing a dirty undershirt.

    • Guest says:

      Tell me about it. Based on the title and the picture, I was sure the article was going to be about a Beamers type establishment.

      -Guy who doesn't know what "girded" means.

    • Guest says:

      hehe…it says erect and come…hehe

  2. Guest says:

    Maybe the fact that only second class talent and banks reside in Charlotte could have something to do with this?

  3. pazzo83 says:

    You're welcome.

    – Charlotte's Climate

  4. Guyincharlotte says:

    I've never been surrounded by such losers.

    -Guy who had to come into the office during DNC

  5. Coles Stevens says:

    "into the Ritz-Carlton Hotel pool during a convention party attended by industry insiders."

    The combination of Ritz-Carlton and "industry insiders" makes me want to puke.

    • guesticles says:

      No one cares.

    • guest says:

      You seem easily offended.

    • guest says:

      Would Ritz-Carlton and industry outsiders have been preferable? Hampton Inn and industry insiders?

      – Guy who's curious about the winning combination

      • Hakuna Matata Guy says:

        Clearly would be more comfortable with Hampton Inn and industry outsiders in the same sentance. Hope you reading this helps!

      • Coles Stevens says:

        Didn't realize I was walking into a shit-storm on that one. Ha.

        I just don't like industry insiders. I know it doesn't exist, but I'm a fan of capitalism – you know – where the best rise. More of a "what you know", than a "who you know" society.

        I have no problem with the Ritz. I'm not that easily offended, but apparently no one cares.

        • Guest says:

          Yes, I too am a fan of capitalism where only the best rise to the top. We need to get back to those days.

          – D Fuld

  6. Guest says:

    Letting them eat cake since 1789

    CEO, Erector-fence-company

  7. pazzo83 says:

    Fuck the Cowboys.

  8. 2 cubes over says:

    What's the connection between Cowboys cheerleaders and Charlotte, NC?

    -Highland Park "HF" Guy

  9. Sleeper says:

    Come on, Bess. Of all the thousands of Cowboy cheerleader pictures out there, you pick the one girl who looks like she had a fire on her face that was put out with a pitchfork!?

  10. Punch Me Please says:

    Yea, better watch out for the poisoned cat food guys.

    -Former banker / dealbreaker reader now using his powers against his former fatcat masters, but still a fan of FECs and not of retail bankers.

  11. ILoveLamp says:

    That's two days in a row this Bob Rubin "falling into the pool" thing is being reported on. Why haven't they reported that it was Hank Paulson who actually pushed him in? Something about touching his wife's feet, I heard.

  12. Fred Garvin says:

    Please keep rotating the pics.

    – Eliot Spitzer

  13. E. Texas Gas Trader says:

    In Deep East Texas, they say a cheerleader's favorite color is "yeller".

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