Of course, my explanation is that once folks become members of the Leisure / Predator classes--or even aspire to become members--all links or solidarity with the Producing Classes are broken. And I still believe this is a pretty good explanation. Now Robert Reich, Clinton's midget Labor Secretary who enthusiastically sold out USA labor by backing NAFTA, offers an even simpler explanation.
Bob Reich Explains Why Washington Hires So Many Wall Street Execs
Courtney Comstock | Apr. 11, 2011, 12:25 PM
Bob Reich has a simple explanation for why so many Wall Streeters get hired in Washington. As he told NYMag.
“Official Washington is starry-eyed when it comes to Wall Street. They assume if you’re that rich, you must be smart.” more22 examples of the revolving door between Wall Street and Washington.
THE REVOLVING DOOR: 22 People Who Went From Wall Street To Washington To Wall Street
Katya Wachtel | Mar. 4, 2011, 3:51 PM
The list of Wall Streeters who have ended up with government jobs, and vice versa, is long.
Some would argue that the incestuous nature of the relationship and the revolving door between Washington and downtown Manhattan is dangerous.
Others are glad to have people in the Capitol making decisions about the economy who have actually been involved in it practically.
The Wall Street-to-Washington-and-back revolving door has been swinging at least since 1934 (when Joseph Kennedy was appointed Chairman of the SEC by President Roosevelt, after a successful career on Wall Street), and it's still going. moreWhile this is an obvious example of corruption (or regulatory capture--to use the latest euphemism) I believe there is more at work here. For a lot of folks with fancy degrees, finance is just a nice clean industry. It "makes" money by methods that require some training to understand and it appears to be an excellent example of the "knowledge business" all the teevee talking heads have been predicting. And to most of these folks, closing down a steel plant while opening up another hedge fund seems to be an exercise in environmental virtue.
The fact that this is naked class warfare that has the side effect of destroying a culture's ability to provide for itself is utterly lost on those who believe that finance is the institution that will lead us into that bright, post-industrial future. They do not even see or acknowledge the victims of their greed and madness. After all, it's a long way between the Hamptons or Bethesda Maryland and Youngstown Ohio--both physically AND psychically. So while Populist rage at Wall Street has grown to thunderous levels around the world, the banksters actually wonder in amazement, "Why are you pissed at us?"