Bankers and finance executives might have brought the world to its knees but they haven't learned their lesson. They reckon they're victims.
In this striking piece from New York magazine, The Wail of the 1%, bankers say they deserve the be treated with respect. And they don't see why they should take salary cuts or pay higher taxes. The piece says: ""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.' "
If nothing else, it's another sign that melting markets have done nothing to wash away the shameless greed that has created the worst recession since the Second World War. And it will only heighten the gulf between Wall Street and the rest of the business world.
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