Before the panic began about the decline of business for Wall Street (along with the possible 10% layoffs by end of 2022) pre-publication sales of “Bully Market” were increasing. Today on Amazon they have plummeted to the ranking of 164,732.
The full title of that expose on alleged greed and gender bias is “Bully Market: My Story of Money and Misogyny at Goldman Sachs.” The author is a former managing director at that gigantic financial firm – Jamie Fiore Higgins.
Right now, like who cares. Or can afford to.
As The Wall Street Journal reported today, Goldman Sachs’ earnings fell 47%. Big money is at stake. Jobs are at stake. The near-term career future of Class of 2023 is at stake. The best and brightest usually head for Wall Street. Those slots might not be available. Career hopes dashed.
Other sectors, including law firms with Wall Street clients, could be negatively affected. Actually the warning about that – possible layoffs at law firms – is already out there. It became chatter at an industry luncheon last week.
Probably then it should be no surprise that another expose on Wall Street, along with Big Law, “The Caesars Palace Coup” has fallen in rankings on Amazon. Before the news darkened about Wall Street, the ranking for sales was at about 20,000. Tonight they are at 27,251. That is quite a drop.
Wall Street firms and white-shoe law firms certainly have their flaws, as do all business organizations. But they are major economic engines. They donate much of their wealth to good causes. In fact, some of the leadership in Big Law such as Paul Weiss chairperson Brad Karp is hands-on in social justice. Well-paying jobs on Wall Street and in large law firms keep myriad industries purring, ranging from housing to hospitality.
No one with any financial common sense is in the mood to have the knock put on Wall Street. Or on law firms.
No, don’t buy “Bully Market.” And if you haven’t already read “Caesars,” don’t. Take it from a communications expert such as myself: It is poorly written.
Connect with Editor-in-Chief Jane Genova at [email protected]