David I.A. Webb, the former investment banker who was featured in Morgan Spencer’s New York Observer column last week, has delivered a missive rebutting the attack on him–and his entire investment banking ilk–that ran in the Huffington Post.
It’s actually a pretty reasonable response, which is a bit disheartening. In the old days, an investment banker would have issued some not about chomping beluga caviar and puffing cigars while his attacks spun out their hatred. These days, it seems, bankers under attack reach for our heart strings.
Here’s the meat of David’s response, written from his “dingy studio apartment”:
The initial outcry for accountability and responsibility has been replaced by deeper rumblings of outrage. There is a new type of anger towards Wall Street, one that is more irrational and emotional; a sentiment of rage not dissimilar from the McCain rally where a gentleman in the crowd yelled out, “Terrorist! Kill him!” This populist rhetoric — that all bankers are by default evil, money-grubbing heathens — is growing. The public is shouting for blood and for recompense, and politicians looking to distance themselves from the morass are jumping on the bandwagon. This is not a healthy road to go down.
But Rob, again, I hear you. It sounds like you don’t hang with too many bankers, though I would guess you’ve crossed paths with a handful of them incognito. Either way, you should definitely try and meet a few. If you did, I think you would see that many are decent people with families, with children, from various backgrounds who got into banking for a myriad of personal reasons. Not all of them light cigars with $100 bills, buy bottles at Marquee or prostitute themselves in front of the new media.
We’ll keep you posted when Rob Fishman responds.