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Wall Street Hubris Dies Hard

Via Ben Smith comes this rant about the new compensation limits from the self-described "Wall Street Tabloid" Dealbreaker:

It's a scary thought that the voice of the people should reign so supreme over any administration's policy initiatives, if only because history has often proven the voice of the people irrational. There are positives to this though, namely that it's going to act as a disincentive for companies to accept Fed money in the future, which will in fact probably lead to a consolidation/clearing of the finance industry. There's also the idea that in the public eye something has been done about this menacing problem: statements have been made, leaders acted, rules formulated - and in the end, that might just be enough to keep the brilliance of middle America off our backs for a little while.

Ah yes, because the brilliance of Wall Street has served us all so well.

--Jason Zengerle