I traveled all the way from Hoboken, N.J., a very long distance – maybe as much as 3 miles! – to a media reception in Manhattan that was organized by the rating analysts at Moody’s Investors Service.
The hundreds of reporters and analysts packed into a Midtown rooftop lounge seemed to be confident, and starting to get over the trauma of 2008.
Some analysts who track various types of financial services products were quick to say that they had no need to become experts on understanding the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 because Dodd-Frank had turned out not to have much effect on the sectors they watch.
But Post-Financial Stress Syndrome seemed to bubble below the surface. Some analysts were talking, for example, about the new and growing need for risk-free and low-risk consumer products.
The most striking symptom of the new caution might have been the behavior of the crowd: The reporters wer mostly inside the covered area of the lounge, packed in like financial sardines, and made little effort to venture out onto the open-air rooftop terrace, which had plenty of seating, waiters bearing appetizers, and outdoor heaters.