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Tom Wolfe: Chicago Is The New New York Or Maybe New York Is The New Chicago

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It's hard to believe that it's been twenty years since "Bonfire of the Vanities" was published. Much of what was groundbreaking in Wolfe's novel has now entertained the common culture so that it is almost hard to appreciate how original his tale of the moral mayhem into which we were descending was when it was published. Remember, back then it was supposed to be Morning In America. Wolfe showed us that there was some truly dangerous under-currents brewing. We've since passed through that period, shuffling off some off its aspects--especially crime, which has been underperforming for years now--and adopting some it into the very heart of our culture--wealth worship and political correctness.
Today, the New York Times asks some of the people who characters in the book were based on about how New York has changed. The most interesting remark, however, comes from Wolfe himself.
He tells the Times:
The big excitement in the financial world, hedge funds, have already shifted their center of gravity out of the city, he said.
Greenwich, Conn., is the new Wall Street, and New York is the Chicago Commodities Exchange.

We're not really sure whether Tom's upgrading Chicago or downgrading New York. But if he is downgrading Chicago, he should probably spend some time learning about Chicago derivatives traders.
Looking Back on the Bonfire of the 1980s [New York Times]