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February 11, 2009

New Tomdispatch

link

The "Best Men" Fall
How Popular Anger Grew, 1929 and 2009

By Steve Fraser

Obtuse hardly does justice to the social stupidity of our late, unlamented financial overlords. John Thain of Merrill Lynch and Richard Fuld of Lehman Brothers, along with an astonishing number of their fraternity brothers, continue to behave like so many intoxicated toreadors waving their capes at an enraged bull, oblivious even when gored.

Their greed and self-indulgence in the face of an economic cataclysm for which they bear heavy responsibility is, unsurprisingly, inciting anger and contempt, as daily news headlines indicate. It is undermining the last shreds of their once exalted social status -- and, in that regard, they are evidently fated to relive the experience of their predecessors, those Wall Street "lords of creation" who came crashing to Earth during the last Great Depression.

Ever since the bail-out state went into hyper-drive, popular anger has been simmering. In fact, even before the meltdown gained real traction, a sign at a mass protest outside the New York Stock Exchange advised those inside: "Jump, You Fuckers."

The rest.

—Jonathan Schwarz

Posted at February 11, 2009 08:45 AM
Comments

if you insist you are right long enough and loudly enough, you'll get away with it.

bush et al are exhibit D.

Posted by: karen marie at February 13, 2009 12:47 PM