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March 6, 2013 By Steven E. Greer
Starting around February 18th, some of the nicest restaurants Downtown suddenly became packed, with dining rooms and bars full until 10:00 PM. It was a mystery to the managers as to exactly why this was happening. Was it Spring fever? Were people back from vacations?
The most likely explanation is that the Wall Street bonuses hit the bank accounts. It is not well appreciated that the vast majority of Wall Street bankers and traders live on base salaries that barely get them by the Manhattan cost of living. Every February, once the bonuses hit, the deferred purchases take place, and along with that comes some fine dining and celebration. “Whew, I survived another year without being fired.”, is what most employees think.