Re that last post, perhaps a more thoughtful response is in order. Our biggest problem with this is not that it’s obnoxious but that it’s so perfectly wrong, and in no way representative of reality. Point by point:
Just like gambling, its not a problem until you lose. I’ve never heard of anyone going to Gamblers Anonymous because they won too much in Vegas. Now the market crapped out, & even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat.
The gambling metaphor is one of the main problems here. A healthy market is not a casino. Which, by the way, is a good thing for Wall Street, because if it was a casino, every last one of them would be flat broke and kicked out of the building by now; after you’ve lost everything, casino owners don’t generally come to the table with generous offers to make you whole.
Go ahead and continue to take us down, but you’re only going to hurt yourselves. What’s going to happen when we can’t find jobs on the Street anymore? Guess what: We’re going to take yours. We get up at 5am & work till 10pm or later. We’re used to not getting up to pee when we have a position. We don’t take an hour or more for a lunch break. We don’t demand a union. We don’tretire at 50 with a pension. We eat what we kill, and when the only thing left to eat is on your dinner plates, we’ll eat that.
There are so many things wrong with this it’s hard to begin, but let’s start with the obvious one: If Bob Rubin wants to take over the night grill at Dennys, we say knock yourself out. This mythologizing of the Wall Street work ethic (We’re sharks! We never sleep! David Brooks says we’re a superior life form that deserves everything we get) is a little silly, and even if completely true (we suspect there’s a lot stretching the definition of ‘work’ here), well, so what? Which would you rather do, sit at a desk for 14 hours for a seven-figure yearly compensation, or work two fulltime jobs cleaning offices for $9.50 an hour? Talk to us about your work ethic when that’s your reward. “We’re used to not getting up to pee when we have a position”—Great; you’ll do well at Wal-Mart. ”We don’t take an hour or more for lunch break”—Congratulations. Welcome to corporate America.
For years teachers and other unionized labor have had us fooled. We were too busy working to notice. Do you really think that we are incapable of teaching 3rd graders and doing landscaping?
Um, yes, if we had to bet, we do think you’re incapable of teaching 3rd graders; teaching, at least teaching well, isn’t something you just walk in off the street and pick up.
So now that we’re going to be making $85k a year without upside, Joe Mainstreet is going to have his revenge, right? Wrong! Guess what: we’re going to stop buying the new 80k car, we aren’t going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We’re going to landscape our own back yards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.
Hmm. We’re no economists (OK, Samuelson is), but we’re pretty sure a healthy economy isn’t one that relies mostly on the discretionary spending of a few super rich people to support everyone else; that sounds kind of …. feudal. Also, we’d love to hear from any servers out there, because we suspect that 35 percent tip is a fiction.
Ahem. All of which is to say that this is not a serious statement. Nor is it a reflection of what actually goes on on Wall Street; there are plenty of really good, smart people there who create value and make our country better. What this sounds like is a some sort of Ayn Rand fantasy.