In the year of Hurricane Sandy, looming fiscal austerity and global scrutiny of banks, Wall Street is just not in a celebratory mood. Banks that once took over entire floors of Manhattan nightclubs and reserved Midtown steakhouses are continuing to follow restrictions on the office holiday party, many of which have been in place since the 2008 financial crisis. Witness the scene at the 40/40 Club in New York’s Flatiron district on a recent December evening. There was no lavish, companywide affair; instead, a group of 40 Morgan Stanley employees gathered in a private room off to the side of the club. The generous ... (full story)