The Young Turks on Snobbery and Sneering by Wall Street Secret Society

Here’s another video by The Young Turks from last year. Kevin Roose, a journalist with the New York Times, infiltrated the annual party by a secretive Wall Street society, the Phi Kappa Alpha. The society basically seems like a university frat/ sorority for elite bankers. Their party was marked by some truly outrageous behaviour. Many of them turned up in drag. One leading financier appeared in a Confederate hat, and at one point in the evening a group turned up on stage in dressed as Mormon missionaries to sing a version of ‘I Believe’. What was particularly shocking was the sheer contempt the Wall Street capitalists had for the government, that had bailed them out. The CEO in the Confederate hat used it to sing a song about how they had successfully ripped off the American authorities, who’d been forced to bail them out. The group dressed as Mormon missionaries did the same. This is particularly shocking in an American context. America is still a deeply religious country, with many politicians, especially Republicans stressing their personal religious faith. This incident would genuinely shock many Americans, who would associate such blasphemy only with the Left. It reveals the genuine contempt the rich 1% have for religion and people of faith, regardless of whether they’re Mormons or not. The assembled bankers and financiers also joked and laughed about how they’d wrecked the country’s economy. They also mocked Hilary Clinton, despite the fact that she has herself done much to aid the American financial sector and defend it from attack. When they discovered the reporter’s identity, they approached him in an attempt to do a little damage limitation. One of them said that they could be ‘very helpful’. In other words, they offered him a bribe, which he refused.

Here’s the video:

I’m posting this video because such attitudes aren’t confined to that side of the Atlantic, and the bankers and elite financiers over here have links with them.

About a decade or so ago the City of London was in the news because of the appalling attitude of the financiers and stockbrokers there. The City was accused of being viciously misogynistic with extremely chauvinistic attitudes towards women. The Daily Mail, very definitely not a feminist paper, quoted one former female financial executive as saying that she was miserable all the time she worked there, despite the fact that she was earning enough to afford closets of extremely expensive clothes. All the women she knew were also extremely unhappy.

The financiers also had absolute, complete contempt for their clients, laughing and boasting about how they had ‘shafted’ them.

These are the people, however, which the British government under New Labour, was forced to bail out, but, with the exception of the odd executive, have never been brought to book for their destruction of the economy, and who are continuing to demand concessions from the government. Despite scandals like Northern Rock and the Royal Bank of Scotland, these are the people, who are still awarding themselves eye-watering pay rises. Well, the video might be American, but I’ve no doubt the precise same culture of elitism and sneering exists over here.

One of the regular contributors to Lobster said that he had a friend, who attended a meeting of high level bankers and financiers in New York. Curious, he asked him what they were like. ‘Worse than you can possibly imagine’, was the answer.

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