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For Hamptons Bonus Babies, Greed Is Gauche

With financial giants Goldman Sachs and Morgan Stanley reportedly dishing out billions in bonuses, excessive spending is making a comeback. But this time around, don't ask, don't tell is the way to go, claims the NY Times. Fearing public outcry, high-rolling investment bankers are keeping conspicuous consumption on the down-low. In the Hamptons, that means concealing your newly-purchased, $5 million summer house from friends, neighbors, even your own family. Real estate agent Diane Saatchi, who closed such a deal warns, “Don’t ask to talk to (the buyer) about it, because he won’t. They don’t want anyone to know they are buying," including his extended family for fear that they'll ask for money. Adds Saatchi, "No one is bragging about anything.”

· Ready to Spend, but Not to Boast [NY Times]