UD - Wall Street "Not Going Back to 2006.. distinct negative for Manhattan real estate"

my bad, noah pointed out that Jeff Berstein actually posted this... so not from "the man" himself.

Of course we're not - GS is now a NY-chartered bank holding company, member of the FDIC. They're not going to allow risky market operations with an explicit government guaranty. Not going to happen.

Ever since the deregulation we've returned to a boom-and-bust cycle just like in the 19th century, the very reason why the Fed was created in the first place, and Glass-Steagall was passed. It does mean that profits will be lower, but they'll also be smoother. Lots of money was made over the past decade, and then it was all lost.