Economic Update: Investment Banks

Has the era of greed that began with the election of Ronald Reagan come to an abrupt end? Peter Cohan says, “It appears the seething emotions of greed and envy that come along with bonus time at investment banks will now have fewer dollars attached to them.

Talent will now flow to government and academia rather than Wall Street. This could be good for the U.S.!” Cohan says some of the ‘masters of the universe’ in the investment banking industry have seen the value of their stock tumble and many of them are going without bonuses this year.

Cohan owns a management consulting and venture capital firm and teaches strategy at Babson College. He is a frequent commentator on developments in economics, technology, and finance and has appeared on ABC’s Good Morning America, CNN, CNBC, PBS’s Wall \$treet Week, and New England Cable News (NECN)

Scott Drake talks with Peter Cohan