Silicon Valley Wealth Triggers Feeding Frenzy

Goldman Sachs and various megabanks may be in lay-off mode elsewhere, but they're hiring in Northern California. The irresistible lure, according to a page-one story in today's New York Times: The Ripe Scent of New Money.

To win a piece of wealth in the feeding frenzy, the Times reports, brokers and private bankers start courting young techies as soon as liquidity events appear on the horizon. Will financially unsophisticated young people be a match for Wall Street's pros? Or will they be sorry they missed the education provided by Google?