Wow. Our experiment is off to a great start—let's see if we can finish it off sooner than expected.
The new issue of New York Magazine features a cover story called “The Wail of the 1%.” The piece describes what a bummer it is for rich Wall Street execs to have to put up with all the populist rage that’s being levied against them–just because they helped bring down the world economy, and got paid seven-figure salaries while doing so. It’s especially difficult for the poor bankers and brokers to endure all these bad vibes while they’re having to tighten their own hand-tooled Italian leather belts due to lost jobs and lost bonuses.
This isn’t the first time we’ve heard this sort of peevish lament from the rich–I’ve written about it before myself. But the article’s author, Gabriel Sherman, gets some truly shameless quotes out of these guys (most of whom refused to use their names). A few examples:
“No offense to Middle America, but if someone went to Columbia or Wharton, [even if] their company is a fumbling, mismanaged bank, why should they all of a sudden be paid the same as the guy down the block who delivers restaurant supplies for Sysco out of a huge, shiny truck?” e-mails an irate Citigroup executive to a colleague.
“I’m not giving to charity this year!” one hedge-fund analyst shouts into the phone, when I ask about Obama’s planned tax increases. “When people ask me for money, I tell them, ‘If you want me to give you money, send a letter to my senator asking for my taxes to be lowered.’ I feel so much less generous right now. If I have to adopt twenty poor families, I want a thank-you note and an update on their lives. At least Sally Struthers gives you an update.”