You really have to read this piece called the “Wail of the 1%” to believe it. My personal favorite quote is the following:
The argument that Obama has in fact done a great deal to help Wall Street—to the tune of trillions of dollars—doesn’t have much truck with these critics. “If you really take a look at what Obama is promising, it’s frightening,” says Nicholas Cacciola, a 44-year-old executive at a financial-services firm. “He’s punishing you for doing better. He doesn’t want to have any wealth creation—it’s wealth distribution. Why are you being punished for making a lot of money?” As a Republican corporate lawyer puts it: “It’s the politics of envy, and that’s very dangerous.”
After watching the 60 Minutes piece last night about how these guys got filthy rich on fees on your money, the notion that these guys are about wealth creation just tickled me. If ever there was a portrait of entitlement, it is these guys.
(via the comments)
*** Update ***
This Joe Klein piece is excellent.