The New York Times has an interesting piece on how the current financial crisis might portend an end of an era on Wall Street.
Money quote: “It’s the beginning of the end of the era of infatuation with the free market,” said Steve Fraser, author of “Wall Street: America’s Dream Palace,” and a historian. “It’s the end of the era where Wall Street carries high degrees of power and prestige. And it’s the end of the era of conspicuous displays of wealth. We are entering a new chapter in our history.”
I'm not so sure that Americans will be able to reign in their bling, but it sure would be nice to see.