New York: Wall Street executives may face smaller bonuses and a public that still eyes them with suspicion, but that isn't stopping them from rediscovering their love of luxury cars, oceanfront homes and private jets.
A soaring stock market, a surge in merger deals and an uptick in hiring on Wall Street are allowing bankers to gradually return to the lavish lifestyles they enjoyed until the 2008 financial crisis came crashing down on their party.
Despite talk of bonus cuts, many businesses that cater to bankers' whims, such as the luxury car dealerships on Manhattan's Park Avenue, are teeming with Wall Street suits.
"Even if they are worried about bonuses, their egos are involved here," said one dealership manager, who said requests have been filing in for $225,000 crimson red Ferraris and $170,000 Audi R8 convertibles....more
05:04 PM, Dec 30, 2010