The bond dealers who defined Wall Street success in the '80s, and who were immortalized by Tom Wolfe in his best-selling novel, "Bonfire of the Vanities," seem to be losing power by the day.
March 30, 2015 at 09:00 AM
1 minute read
Time was, Sherman McCoy could stride into Pierce & Pierce to bray for money on the bond markets with other Masters of the Universe.
That was 1987. McCoy, the hotshot bond dealer at the center of the “Bonfire of the Vanities,” would be 66 by now, and he’d scarcely recognize the Treasury market.
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