It is not enough to be rich, we want to be loved
Last week’s Politico Magazine ran a story quoting Wall Street executives who have become saddened and bewildered by how little pull they have in Washington:
“… it may be the first time since the Great Depression that the New York banker class has been this disconnected from both parties simultaneously. The pervasive dismay, alienation and hopelessness comes through in recent conversations with CEOs, hedge fund managers and private equity officials—all of them major Wall Street donors who’ve seen their influence in Washington tested and who are now uncertain whether and how to re-engage. ‘Like the rest of America, Wall Street is looking at Washington and saying whether we agree or disagree, they’re looking at both parties with complete revulsion,’ one private equity executive told us.”
The executives, almost all of whom declined to go on the record, say they don’t feel they’ve enjoyed either public respect or a private connection with the Obama administration. At the same time, they feel Mitt Romney was a terrible messenger, and they’ve been “turned off” by the Republicans this year. This puts the executives in a strange and awkward position: They don’t know who to give their money to.
The article doesn’t name specific policy grievances the bankers have. It’s possible that’s because they don’t really have that much to complain about.
It is not enough that they own the White House and Congress lock, stock, and barrel. It is not enough that they are uber wealthy. They want to be loved.