Tuesday, November 18, 2008

in case you weren't sick of them already

the rich and entitled of Wall Street are still making bucks and acting like pricks.

Via BoingBoing (commenting on a story in the Wall Street Journal):

Merrill Lynch Needs a Dressing Down
The Wall Street Journal, Friday November 14th, reports on "culture clashes" between the brokers of Merrill Lynch and the bank that bought them, Bank of America. As the article portrays it, the values of Wall Street are coming in conflict with those of Main Street. "Merrill staffers joke that Bank of America employees are recognizable in the elevators by their less expensive attire and American-flag lapel pins."

Merrill Lynch is bullish on snobbery and status. These snobs, wearing more expensive suits, consorted to run their company into the ground. Now they look down on the company that rescued them and the people who work there as not being worthy, not sharing their own high status. It's another sign that failure will not humble Wall Street or cause them to change their ways. It's also a bad sign for Bank of America of the difficulty of getting these dandies to do an honest day's work.

These are the good people we're helping bail out and they look down their noses at the rest of us. It bothers me that we're providing welfare payments to people who fly first-class, stay in five-star hotels, eat in expensive restaurants, watch sports in skyboxes and travel in limos more frequently than rock stars, all the while being impeccably dressed in the classic fashion. It just makes me want to rise up out of my seat in coach, walk to the front of the plane and grab one of them by their silk tie. I want to scream: "Get out here, you bum. I know you're not the one paying for this." I'd half-expect them to defend themselves by saying "Hank Paulson said I could sit here."

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