So Bloomberg talked to some rich Wall Street types
about dealing with the impact of reduced bonuses. All populist
eye-rolling aside, I think this quote from Michael Sonnenfeldt--founder
of Tiger 21, a "peer-to-peer learning group for high-net-worth investors"--actually makes some sense:
Sonnenfeldt said [Tiger 21] members, most with a net worth of at
least $10 million, have been forced to “re-examine lots of
assumptions about how grand their life would be.”
While they aren’t asking for sympathy, “at their level, in
a different way but in the same way, the rug got pulled out,”
said Sonnenfeldt, 56. “For many people of wealth, they’ve had a
crushing setback as well.”
Sure--you don't have to be destitute to experience the disappointment of unmet financial expectations.