While Tom Nides, Jamie Dimon, and others were celebrating the news of Obama’s victory, Joe Perella was digesting that news at his usual corner table in his favorite restaurant, San Pietro, in Midtown Manhattan, where the Wall Street elite gather each afternoon to dine. Perella is no ordinary Wall Street executive—he’s a legend in the arena of investment banking after a forty-year career in which he worked at the top of two large investment banks (First Boston and Morgan Stanley) and launched two “boutique” investment houses, the first one with Bruce Wasserstein (the same bank that Rahm Emanuel would later work for) and a second with a former partner from Morgan Stanley. Unlike his friends seated at the other tables, Perella wasn’t giddy with excitement over the Obama presidency and the prospect of tapping into the wealth that Big Government can shower on Big Business. Rather, he was worried about the future, not just for Wall Street but also for the country. Perella is a tall, intense man who loves to eat expensive Italian food and gossip.
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