One can always rely on Art Cashin and the Friends Of The Fermentation (FoF) to provide a novel perspective on pretty much everything.
From Art Cashin of UBS
It May Be That Way In 99% Of All Places - The office of one of the regulars in the Friends of Fermentation is in a building that faces Zuccotti Park, the campground for the Occupy Wall Street crew. Being a sociable type (he’s in sales); he sometimes stops to ask someone where they are from and why they are here.
Last Wednesday, he began to chat with a young man with a tambourine who was seeking donations for the group. After a brief chat, my FoF pal told the young man - “I’m not gonna give you any money.” When asked why not, my friend replied - “‘Cause you guys screwed up the drum thing.”
The allusion was to an incident in which an anti-protester had snuck in one night and slashed the leather heads of several drums with a razor knife. The drum owners had asked the protest leaders for a portion of the donations to repair the drums. The leaders, rather publicly denied the request.
The tambourine guy tried one more time. “No”, maintained my friend, “The drum thing was stupid.”
The tambourine guy looked to his left, then to his right as if to see if anyone was near. Then he leaned in toward my pal and whispered - “I gotta admit, management here is pretty dumb. They don’t have a clue.”
Welcome to Wall Street friend, that’s a phrase you’ll hear a lot around here.