At times like these, when the economy is in the doldrums and there’s unrest all over the world, it’s good for Wall Street remember the little things.
It’s even better, though, to remember the big things. That’s what Kevin Roose points out in his latest post at NY Magazine’s Daily Intel. So buck up Wall Street, we need you happy:
“How are we supposed to function as a free-enterprise-worshiping society if all our millionaires and billionaires are holed up in their offices, listening to the xx with the blinds drawn and stress-drinking Petrus ’82?…It’s unbecoming for the Masters of the Universe to behave like, as Chrystia Freeland put it, a “vilified underclass.” So snap out of it…”
It’s time to think about all the great things bankers are doing, here are a few of our favourites (from Daily Intel):
- “You’re winning the war on regulation…. Almost every major regulatory push in the post-crisis era — from limiting commodity speculation to giving bank shareholders a say on executive pay — has encountered fat-walleted opposition from the industry. The result? Many rules have been tweaked in Wall Street’s favour, and some have gotten struck down altogether.”
- “No matter who wins the election, you’ll be fine. Listen. I know Mitt’s your boy. But really, did you hear him talking about the “big kiss” Obama had given to “New York banks” in the debate last night? Did he sound like he’s going to keep being the the financial industry’s best friend if he moves into 1600 Pennsylvania?”
- “Three words: “Silicon Valley Start-ups.” Trust us: After this Bravo reality show about the crazy, obnoxious lives of Silicon Valley rich kids premieres next month, everyone who used to rail against banks will (or should, anyway) turn their red-hot antipathy westward.”