Why Investment Banks in NY are going to fail. A big part is diversity. (May all of you NY bankers RIP)

I've been watching the Texas (and the rest of the US) vs New York markets and I've seen this play out or starting to play out big time. Texas has always never really used capital markets as extensively as the Northeast has, and it's transitioning to a big clubby state in terms of financing. Big clubby syndicate loans between the biggest regional banks here along with some of the BBs as book runners, and the CRE firms that host the old money Southerners are also getting into this "capital markets" action so to speak. There's not really a public market, but everyone knows each other so there's a big private market. We all went to the same private schools etc and backgrounds. A lot of the middle market clients that we were trying to poach at the BB I was at stay with their regional banks and these regional banks then develop an "IB" arm so to speak. But in essence it becomes a big syndicate club. 

Other regions are probably going to follow because people want to preserve their culture. I'm not southern or white by any means. But that's just what america has always been. WASPy. And I'm confident that there will be a pop-up of big syndicate clubs across the USA such as in Charlotte or other places where white people are moving to. And there won't be any national capital markets, unless America somehow miraculously unifies, just big regional club syndicates or whatever regional "capital market" will exist (who even knows what that means). But given the big cultural, religious, and social clashes. This national level capital markets will collapse very quickly. I'm not even surprised UBS or other banks can't get clients. They'd rather just stay with their regional lenders and have them team up rather than access capital across the country from a couple of hobo idiots that don't align with them socially and culturally. 

And I'm guessing blacks and hispanics with credit unions etc such as a comparison to whites and traditional banks. And the national bulge brackets are going to collapse into regional banks etc. International lending will be through development banks in Asia and other banks that are developed through political partnerships in each region. It'll be fun, but things like BB and these notions of investment banking won't hold much sway in the financing in the rest of the country (if we have one) in the future. So anyone outside of the NY and northeast area probably should disregard these forums in the future. 

I guess this is the inevitable outcome of America. Always whites at the top protecting their self interests. 

And as for energy. Well the regional powerhouses like TPH split into two with TPH and Pickering Energy. And there's new ones such as Intrepid Financial with McGee. And a lot of the regional firms have always been here. They just got poached into BBs, but they might separate like Richardson Barr (RBC) and Waterous (Scotiabank). Honestly they might just separate and rebrand. I mean given how things are geopolitically I wouldn't even be surprised. So yea. NYC IB is probably dead in the near future.