{"id":383139,"date":"2021-12-19T04:44:26","date_gmt":"2021-12-19T01:44:26","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mandates-covid-spike-bringing-wall-street-back-to-square-one\/"},"modified":"2021-12-19T04:44:26","modified_gmt":"2021-12-19T01:44:26","slug":"mandates-covid-spike-bringing-wall-street-back-to-square-one","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mandates-covid-spike-bringing-wall-street-back-to-square-one\/","title":{"rendered":"#Mandates, COVID spike bringing Wall Street back to square one"},"content":{"rendered":"<p>&#8220;<strong>#Mandates, COVID spike bringing Wall Street back to square one<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<div class=\"inline-module inline-module--columnist inline-module--author\">\n<div class=\"inline-module--author__img\">\n            <img decoding=\"async\" width=\"76\" height=\"69\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=76&amp;h=69&amp;crop=1\" class=\"attachment-nyp_columnist size-nyp_columnist\" alt=\"Charles Gasparino\" loading=\"lazy\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=152 152w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=114 114w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=76 76w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png?w=38 38w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2013\/08\/Gasparino_Charles_headshot.png 706w\" sizes=\"auto, (max-width: 76px) 100vw, 76px\"\/>      <\/div>\n<\/div>\n<\/aside>\n<p>The Wall Street holiday party circuit is a usually great place to have some laughs and pick up a few scoops. Not this year. The scoops are fewer than usual, as are the laughs, because COVID was supposed to be over and as we know, it\u2019s not.\u00a0<\/p>\n<p>No, the big story circulating among bankers and traders as they sip their party drink of choice is that we all should party like it\u2019s 1999 because word from their bosses is that seriously protracted lockdowns could soon be coming.<\/p>\n<p>The banks are actually moving back toward COVID square one: People working from home, many more Zoom meetings with clients and in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> hiding from a virus that experience tells us can\u2019t be escaped.<\/p>\n<p>The Street isn\u2019t ready to officially announce any of this, my sources say. And who knows, maybe the bank chiefs will soon grow a pair and learn to live with something that isn\u2019t going away no matter how many times \u00adAnthony Fauci or \u00adRochelle Walensky tell us to mask up on the treadmill.\u00a0<\/p>\n<p>But you know something is up (aside from the ominous party chatter) when Jamie Dimon of JPMorgan and James Gorman of Morgan Stanley start doing 180s on their back-to-office mandates. Recall that along with Goldman Sachs\u2019 David Solomon, they were the COVID tough guys: \u201cGet to work or else\u201d were their marching orders just a few weeks ago.\u00a0<\/p>\n<p>Not so much anymore. \u201cBetween now and Jan. 3, 2022,\u201d Morgan Stanley is telling brokers in NYC \u201cto work remotely . . . limit business get-togethers\u201d because of an uptick in COVID in the city and at the firm, an internal memo says.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/David-Solomon.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"David M. Solomon, Chairman and CEO of Goldman Sachs\" class=\"wp-image-20543462\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/David-Solomon.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/David-Solomon.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/David-Solomon.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Goldman Sachs\u2019 CEO David Solomon previously demanded his employees to return to their offices as soon as possible.<\/figcaption><figcaption><span class=\"credit\">REUTERS\/Mike Blake\/File<\/span><\/figcaption><\/figure>\n<p>Gorman, who once likened office-hesitant employees to pantywaists, now tells CNBC \u201ceveryone is finding their way\u201d and concedes he was too harsh in his strict office policy where he implored people to get back at their desks by Labor Day. That, of course, was two COVID variants ago. These days, Gorman isn\u2019t challenging the toughness of people who prefer to do their jobs via Zoom.<\/p>\n<p>Ditto for Dimon. The man who runs the nation\u2019s biggest bank said COVID was in the \u201crearview mirror\u201d a few months ago. He said he hated the work-from-home routine that the Street adopted during the initial phase of the pandemic so much that employees who didn\u2019t return to the office without a medical reason faced disciplinary action.<\/p>\n<p>These days, a kindler, gentler Jamie is roaming the halls of JPM. Word out of the bank is that the back-to-office mandate won\u2019t be so hard and fast going forward. And if cases keep piling up, it could be ditched completely depending on the job as the bank scrambles to adjust to what it believes could be a 2020-like COVID situation.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/James-Gorman.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"James Gorman, chairman and chief executive officer of Morgan Stanley.\" class=\"wp-image-20543463\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/James-Gorman.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/James-Gorman.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/James-Gorman.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Morgan Stanley CEO James Gorman admits COVID-19 variants are \u201ccontinuing to be an issue,\u201d in an interview with CNBC.<\/figcaption><figcaption><span class=\"credit\">Scott Eells\/Bloomberg<\/span><\/figcaption><\/figure>\n<p>At JPM expect more Zoom meetings and conferences (another Dimon pet peeve). Example: Dimon\u2019s biotech bankers couldn\u2019t wait to mingle with drug-company clients at the firm\u2019s annual health-care conference in early January after last year\u2019s virtual event.\u00a0<\/p>\n<p>But Moderna \u2014 the same biotech powerhouse that once boasted a 90 percent efficacy COVID vaccine \u2014 said its people wouldn\u2019t attend in-person because of the new possible vaccine-resistant variant.<\/p>\n<p>That means it\u2019s back to the dreaded Zoom for conference attendees.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/Jamie-Dimon.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"JP Morgan and Chase CEO Jamie Dimon\" class=\"wp-image-20543464\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/Jamie-Dimon.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/Jamie-Dimon.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/Jamie-Dimon.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>JPMorgan Chase CEO Jamie \u00adDimon had dismissed the remote work lifestyle.<\/figcaption><figcaption><span class=\"credit\">REUTERS\/Dylan Martinez\/File <\/span><\/figcaption><\/figure>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>\u201cThe facts will determine where we go from here,\u201d said one JPM exec. \u201cIf the variant get worse, if hospitals fill up, we will be taking more steps backward.\u201d<\/p>\n<p>At least we have Christmas parties, right? Well it seems the ones I attended were good while they lasted. A slew of big banks, including Citigroup and Jefferies, have been joined by Goldman Sachs CEO Solomon (yes the same one who wants everyone in the office), boutique bank LionTree as well as UBS in canceling such festivities even with one week to go before the holiday.<\/p>\n<p>You can\u2019t totally blame the executives for their inconsistent <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach to dealing with COVID; they take their orders from the clown show that aptly described how our government, both at the federal and state level, has dealt with the pandemic.<\/p>\n<p>The nanny-staters in Albany basically shut down New York City last year to businesses and turned Manhattan in a playground for the homeless and criminals. And they\u2019re starting to put out similar feelers now: NY Gov. Hochul\u2019s absurd mask mandate for businesses that in practicality extends to the vaccinated defies the reality of the pandemic: It\u2019s mostly one of the unvaccinated getting seriously sick. Hospitals aren\u2019t filling with vaccinated people, and it\u2019s pretty hard to convince someone to get a jab if they still need to wear a mask.<\/p>\n<p>On the federal level, Fauci and Walensky mean well, but they\u2019re also fighting yesterday\u2019s battles with mask rules and even hints that we could go back to hiding in our basements as Omicron spreads.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/Kathy-Hochul-8.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"New York Gov. Kathy Hochul\" class=\"wp-image-20543465\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/Kathy-Hochul-8.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/Kathy-Hochul-8.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/Kathy-Hochul-8.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Gov. Kathy Hochul is threatening businesses once again with another mask mandate when the majority of New Yorkers are fully vaccinated.<\/figcaption><figcaption><span class=\"credit\">Hans Pennink<\/span><\/figcaption><\/figure>\n<p>COVID spread despite harsh lockdowns. Vaccines, while not perfect, clearly take the edge off the pandemic. Treatments like monoclonal antibodies work, and others that are more easily administered are on the way. And the evidence so far is that the Omicron variant is milder than the others.<\/p>\n<p>The public knows much of this, which is why there is close to zero appetite for lockdowns other than from our medical bureaucracy, blue-state pols like Hochul and their <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> cheerleaders.<\/p>\n<p>Here\u2019s a thought: Why don\u2019t Fauci, Walensky and Hochul, with some assistance from Dimon and Gorman, urge President Biden to redirect the trillions already authorized for a real stimulus: Making sure these new treatments are readily available to all Americans so we can just go back to work and really party like it\u2019s 1999.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/12\/18\/mandates-covid-spike-bringing-wall-street-back-to-square-one\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Mandates, COVID spike bringing Wall Street back to square one&#8221; The Wall Street holiday party circuit is a usually great place to have some laughs and pick up a few scoops. Not this year. The scoops are fewer than usual, as are the laughs, because COVID was supposed to be over and as we know,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":383140,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/12\/newspress-collage-20543372-1639876894836.png?w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[122113,70344,82862,70790,70792,98806,73986,120464,70360],"class_list":["post-383139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-18-21","tag-coronavirus-in-ny","tag-covid-vaccine","tag-goldman-sachs","tag-jpmorgan-chase","tag-kathy-hochul","tag-morgan-stanley","tag-omicron-variant","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/383139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=383139"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/383139\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/383140"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=383139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=383139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=383139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}