Dhe street in south Manhattan looks inconspicuous. It’s one lane and only eight blocks long. At the western end the cars jerk over cobblestones, at the eastern end gaping potholes in the tar. Nevertheless, the alley is known around the world: as a synonym for the American banking industry and a symbol of wealth and excess.
It’s Wall Street. The street and its surroundings once made New York the center of the financial world. But now, in the Corona crisis, the metropolis threatens to lose this status. It was announced earlier this week that the investment bank Goldman Sachs may be relocating parts of an important division to Florida. Other financial firms have already left – and many more should follow.
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