THE bustling scene outside the New York Stock Exchange (NYSE) concealed somewhat the dark mood that Wall Street is down on its knees in these days of economic turmoil.
Cameras were everywhere, mostly in the hands of tourists eager to capture the nearby huge statue of George Washington on the steps leading to Federal Hall, where he was sworn in as the first US president in 1789. The current president, however, enjoys no such popularity.
Two protesters stood next to the statue, wearing white masks and black T-shirts emblazoned with the words “Arrest Bush” and carrying signs decrying that “Greed Kills.”
It was lunch time on Wednesday and media people were all over the place, seeking interviews with Wall Street executives and the demonstrators.
“We are a group of angry people,” one of the protesters said.
Another bunch of demonstrators displayed sardonic humour, calling out: “Your house is our house. Your debts are your debts. Thank you for paying your taxes, America. There is a crisis, but trust us! Give us US$700bil (RM2.4tril) and we promise you the sky won’t fall.”
One man chipped in: “I’m just looking for a soft landing.”
Two men who carried a banner proclaiming that no planes hit the World Trade Centre tried to get a slice of the attention. They hovered around an interviewee as he spoke in front of TV cameras, but were soon shooed away by the journalist conducting the Q and A.
Most of the business-suited types declined to be interviewed. Some of them explained that their employers had forbidden them to the press.
“I am by nature an optimist, but I have to be realistic, too,” one of them said, declining to identify himself or name his work place, merely saying he works for a financial institution.
“I think we’re in for a long recession, but what do I know? I’m not an economist,” he shrugged.
The US$700bil bailout plan, to him, was a bitter pill that was essential for everybody.
“It’s mortifying and there will be side effects. There isn’t going to be sunshine after that, but there is not much of a choice for now,” he said.
He has been extra careful with his spending but the mood around him was depressing, he said, “and it’s not just Wall Street but Main Street as well.”
Even the highly regarded practice of ringing the opening and closing bell at the NYSE has been marred by the dampened mood, according to The New York Times on Wednesday, which estimated that about 100 million people would usually watch the daily tradition on TV.
Headline names such as Robert Downey Jr (“Iron Man”) rang the bell in April and Michael Phelps did the honours last month.
But now, as the report noted: “Who wants to ring in — or out — the next black day on Wall Street?”
Yet, hope floats for others such as 19-year-old Wendy Francis, a visiting Jamaican who is bullish of her chances of making New York her home.
“I’ve heard so much about the economic crisis but I hope to return and make a life of myself here, as a nurse,” she said.
A Vietnamese who runs a fruit juice stand near the NYSE seems to face no downturn in business. There was a steady flow of customers ordering smoothies from him.
“Business is so-so,” he said, then promptly declared that he had lived in Malaysia once. “I stayed at the Sungai Besi camp for four years.”
This year, Rosh Hashana (the Jewish new year) coincided with Hari Raya.
The NYT reported that some worshippers troubled by the financial crisis often came out of the synagogues during services to check their phone for messages on the latest on the market turmoil.
As for New York City Rescue Mission, which runs a soup kitchen for the poor and homeless, the non-profit organisation is keeping its fingers crossed that donations would keep flowing in.
“We are overwhelmingly funded by the private sector and individuals; 96% of our budget is from private sources, foundations and corporations while the other 4% is from government sources,” NYCRM public relations manager Joe Little said in a telephone interview.
The economic fallout, he said, had not affected them yet “although we foresee it happening in the coming months as more people get laid off.”
Since 1872, NYCRM has been offering food, shelter, clothing, counselling and spiritual hope for the needy. It has 100 beds and prepares food for 400 people daily on a US$4mil (RM14mil) annual budget.
“We have seen a multitude of ups and downs. There was the Great Depression, 911, but we have continued to serve the poor,” Little said.
Its biggest fund-raising event of the year takes places between now and next month, when people are perhaps more in a giving mood as the holiday season beckons.
“We are gritting our teeth to see how it goes,” he said.
