“ I don’t care what the stock market did late last week or what it does in the next few days. That age, the Master of the Universe Era, is over. Too many people were too badly burned by taking too much risk to repeat that trick again. That has practical implications for everything from private schools, Range Rover dealerships, and Sotheby’s auctions to SAT tutors, newsstand operators, and shoeshine guys. It will also have an impact on the Zeitgeist. Greed is good? Not anymore. I’m nobody’s innocent, but I think we’ll see a more chaste culture emerge from all of this, on Wall Street, and perhaps beyond. Caution will be the new daring. Safe will be the new sexy.
