Thursday, August 21, 2014
Inquirer Daily News

No respect at all

No respect at all

Forget Rodney Dangerfield -- it's rich guys who want a little R-E-S-P-E-C-T:

Evident throughout the letter is a sense of victimization prevalent among so many of America’s wealthiest people. In an extreme version of this, the rich feel that they have become the new, vilified underclass. T. J. Rodgers, a libertarian and a Silicon Valley entrepreneur, has taken to comparing Barack Obama’s treatment of the rich to the oppression of ethnic minorities—an approach, he says, that the President, as an African-American, should be particularly sensitive to. Clifford S. Asness, the founding partner of the hedge fund AQR Capital Management, wrote an open letter to the President in 2009, after Obama blamed “a small group of speculators” for Chrysler’s bankruptcy. Asness suggested that “hedge funds really need a community organizer,” and accused the White House of “bullying” the financial sector. Dan Loeb, a hedge-fund manager who supported Obama in 2008, has compared his Wall Street peers who still support the President to “battered wives.” “He really loves us and when he beats us, he doesn’t mean it; he just gets a little angry,” Loeb wrote in an e-mail in December, 2010, to a group of Wall Street financiers.

That says a lot about human nature. Billionaires in this country have everything they could possibly want -- except the one thing that would make them happ, people's respect. No wonder the Aretha Franklin classic strikes such a chord with people:

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Will Bunch
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