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Pity The Poor Investment Banker

If you haven't already, check out Gabe Sherman's piece about the rage of the mega-rich in this week's New York magazine.

I'm not sure if Sherman was honestly trying to help non-richy readers understand the pain, suffering, and confusion that Wall Streeters are undergoing or if the piece was conceived of as a sly give-them-enough-rope-to-hang-themselves endeavors. Maybe both. Regardless, pretty much every quote and anecdote stresses that Wall Street (unsurprisingly) does not see the recent meltdown as evidence of glaring systemic flaws and that, on a more personal level, many Masters of the Universe are still thinking in terms of hanging tight until life (and seven-figure) bonuses return to normal.

Even if big-footed government regulation makes you uneasy, Sherman certainly reinforces the impression that the entire culture of Wall Street has become so warped that reform is pretty much impossible without a thorough stomping from some external authority. 

--Michelle Cottle