Noblesse Oblige, Not So Much 0
Matthew Lynn at Bloomberg reports that an official from a bank has warned his staff that rich persons are difficult customers. In a way, there’s nothing new here. “Rich” and “demanding” are words that seem coupled.
But, apparently, it’s getting worse. Lynn theorizes
The growth of the financial-services industry and the bonus culture has changed that. The investment bankers and hedge-fund managers who make up most of the new rich elite don’t have much contact with ordinary people. They assume their wealth is entirely the result of their own brilliance. And they cut themselves off from normal life.
It is an industry that mints billionaires and also breeds arrogance, selfishness and snobbishness.
