Out on the Street?

It is surprising how many people are suddenly «available on Monday», as one traditional fixed-income manager puts it. A few short months ago, the allure and rewards of hedge fund management, private equity and Wall Street wizardry made it nearly impossible to fill less exciting positions in the debt markets. Even big hedge funds had to fight for new talent. Now, after weeks of market chaos, the tables have turned. The implication is that some bankers and hedge funds are facing up to an uncertain...