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Bankers Take Up Arms in Class War

December 1, 2009

THIS ISN’T SO MUCH a blog post as it is a series of block quotes that needed to be collected in one place.

The Wall Street Journal:

As traders and investment bankers near the finish line of what looks like a boom year for pay, some are spending money like the financial crisis never happened. From $15,000-a-week Caribbean getaways to art auctions to $200,000 platinum wristwatches that automatically adjust for leap years, signs of the good life are returning. [WSJ]

Alice Schroeder:

“I just wrote my first reference for a gun permit,” said a friend, who told me of swearing to the good character of a Goldman Sachs Group Inc. banker who applied to the local police for a permit to buy a pistol. The banker had told this friend of mine that senior Goldman people have loaded up on firearms and are now equipped to defend themselves if there is a populist uprising against the bank. [Schroeder]


… There is a staggering amount of spare capacity in the economy. Existing productive resources lie unused, while social needs are unmet, because there is no profitable means by which such resources might be used. Companies are not investing, and are not hiring. The banks are still not lending, preferring to hoard funds against future shocks, because their managers do not believe there are sufficient profitable investment opportunities in the economy. This situation is actually absurd. We have, collectively, all the means we require to house, feed, educate and employ the population, but we may not dispose of those means because there is no profit in doing so. [LENIN]

Samuel Gompers (circa 1892):

“Why should the wealth of the country be stored in banks and elevators while the idle workman wanders homeless about the streets and the idle loafers who hoard the gold only to spend it in riotous living are rolling about in fine carriages from which they look out on peaceful meetings and call them riots?” [Gompers]

WSJ via ladypoverty, Alice Schroeder via Corrente, LENIN via, well, me, Samuel Gompers via Anakin.

4 Comments leave one →
  1. December 7, 2009 11:12 AM

    Hello, I just wanted to tell you, I replied to your comment at:

    I think you should let your son, read what I said and decide for himself. Cheers.

    If you want to get in touch with me, email me, or contact me at my blog. I’d like to talk about this, personally.

  2. December 7, 2009 2:16 PM

    not really looking to be indoctrinated in the men’s rights movement just now. i am happy to continue the discussion in Red Queen’s comments, or via email. i have replied to your reply in that comment thread.

  3. December 7, 2009 2:39 PM

    Hello, I appear to have been blocked by the owner of that blog. As before, you can contact me at my email, which may be better, all-in-all considering.

    Here is what I wrote in response to what you last said:


    My approach was telling you how to keep your son safe from being slandered, framed, and falsely prosecuted, not telling him to actually rape someone.

    While I agree with you that calling our “justice system” that is a great misnomer, you should still be telling your son, specifically and by name, which laws could be leveled against him, by someone who hates him. Fear is not irrational. When something can harm you greatly, you should quite weary of it. To be mindful of such things, is to be quite rational, for without knowledge and proper avoidance of dangerous things, he will be hurt. Don’t let him be ignorant of these facts.”

  4. December 7, 2009 2:41 PM

    Ah, I just noticed what you wrote at 2:16 PM. Somehow I missed it. If that’s the case then please email me at

    See you there, ciao.

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