David Dayen does a lovely job of dissecting this wretchedly dishonest exercise in Galtian self-pity by Jamie Dimon and his fellow one-percenter elites, but I can’t help taking a swing at that fastball they parked right over the plate.
So anyway, how many of these self-alleged “job creators” are totally self-made superior beings? Hmmm, not many:
– Dimon, like so many other “job creators” quoted or mentioned in the piece, was born on third base and thinks the single he hit from there is a home run. His father Theodore was an Executive Vice President at American Express and could afford to send Young Master James to Browning prep school before packing him off to Tufts and Harvard. With a parental safety net like that, he would have had to work hard to fail.
– Peter Schiff not only had a cosseted upbringing, being the son of an insurance broker who sent him to Beverly Hills High, but his father Irwin is also a key leader of the wackaloon tax protester movement (and a sucker for Ponzi schemes). So much for the superior being concept.
– Bernie Marcus comes closer to being self-made, but he had heavy parental support and the good luck to come of age during the post-World-War-II boom: His dad employed him as a cabinet maker so Bernie could pay for his pharmacist’s degree at Rutgers. I’d like to see him try that now in the era of skyrocketing college costs and student loans that can’t be discharged via bankruptcy.
– John A. Allison? The Fourth? Do you even have to ask? Went to UNC/Chapel Hill and then Duke in the late ’60s/early ’70s, added to the pile he inherited, and is now one of the biggest Ayn Rand acolyte around. Yup, totally self-made Ayn Rand hero – NOT.
– Allison’s buddy Thomas Stemberg? His dad was an Austrian restaurateur who had moved to New Jersey and he himself went to the American International school in Austria before going to Harvard. Not exactly a latter-day Huck Finn.
– Tom Golisano may well be self-made (his dad allegedly sold macaroni and his mom was a seamstress), but he’s also insane and selfish — he was one of Carl Paladino’s major backers. He had donated to Obama and Kerry, but got his fee-fees hurt when Obama didn’t bow down verbally to Wall Street submissively enough and threatened to go Galt on NYC. Awwww. (Not sure if he bothered to get divorced from his second wife before taking up with the young-enough-to-be-his-daughter Monica Seles, but morality is for the little people, not superior Galtian beings like him.
Meanwhile, actual self-made guys like Warren Buffett and various tech millionaires have no problem with taxation, probably because they didn’t grow up with either obscene wealth or the burning desire to acquire same and the devil take the hindmost.
I swear, rugged-individualist Galtians are the worst and most pathetic whiners of all.



24 Comments

Donald Trump:
“Trump is the son of Fred Trump, a New York City real-estate developer. He worked for his father’s firm, Elizabeth Trump & Son, while attending the Wharton School of the University of Pennsylvania, and in 1968 officially joined the company. He was given control of the company in 1971″ [at the age of 25!!] “and renamed it The Trump Organization.”
from Wikipedia
Wiki says “Thrice divorced, Golisano has been dating former tennis star Monica Seles since 2009″.
Thrice divorced. Him and Newt must get together and shoot the shite.
Thank you, PW. This is great.
How many MSM writers have contacted you to ask if they could quote from/link to your info?
Self-made man? There’s no such thing actually. Buffett had connections and is just a bit more rational and better at wheedling $s out of a system that had wealth placed it to begin with.
Howard Buffett
Warren Buffett
“Hank Greenberg, Starr International, and the Mystery of the AIG Stock Sale” | By: Cynthia Kouril Monday May 25, 2009 6:35 pm
My uninformed opinion is that most, not all, but most of these extraordiarily successful people had some sort of advantage that most people do not have. I suppose that is why I so dislike the Ayn Rand philosophy. There are a few, like buffett, I would suppose, who are just good at what they do.
And there you are. Yet another child of privilege.
One thing I like about Warren Buffett: He went out of his way to give his kids middle-class upbringings, as much as he could.
Heh!
By the way, I must acknowledge swiping the born-on-third-base meme from the late great Molly Ivins.
Perhaps it is that Buffett loves money, not power. Kind of rare. I think he came late to the idea of using one in service of the other.
I mean, nothing really wrong with the love of money. It is the love of the power of money that seems to (so quickly and easily) catch people up.
I loved money when I was young. But I outgrew that phase, perhaps too quickly. I fell into a group that embraced voluntary poverty, and while I did not devote myself to it, I really never found that it was necessary to have more money than time.
The 1% have largely pathetic values, as far as I can tell.
…the late great Molly Ivins.
She is still sorely missed…! *g*
The 1% have largely pathetic values, as far as I can tell.
Therein lies the rub…! 8-(
Always thought W. Bush was born on third base…then stole home. Never liked hot house tomatoes.
wouldn’t Molly be great on Twitter? Damn, the good die too young…
And Bmaz over at Emptywheel’s shop knocks it out of the park:
http://www.emptywheel.net/2011/12/20/fuck-you-to-jamie-dimon-his-plaintiff-wail-for-the-1/
I agree. I think that extraordinary success requires some advantage, some ability, and some luck. The wealthy often attribute their success only to their ability. To be fair, the rest of us may attribute our situations only to bad luck. That’s human nature, I guess.
Back in January of 2001, the New Yorker magazine reviewed W’s accomplishments. He got into Yale and Harvard based on his family’s history with those schools, he got into the baseball business through family connections, he got to use his father’s famous name, his brother’s position as Florida governor may have influenced how the recount was managed, etc. The magazine’s punchline: W gives “assisted living” a whole new meaning.
Mitt Romney, son of George Romney…
who “was chairman and CEO of American Motors Corporation from 1954 to 1962, the 43rd Governor of Michigan from 1963 to 1969, and the United States Secretary of Housing and Urban Development from 1969 to 1973.” (from Wikipedia).
My “favorite” part of that article – the Home Depot guy saying the rich are the ones who fill the “shelves with products at Christmas.”
Perhaps that sorta applies to him (I read elsewhere that he actually started out as a carpenter), but Jamie Dimon ain’t putting no products on the shelves. Even though he and his ilk do refer to financial services as “products.”
Just before I parted from Chase in Nov 2008, when it was already clear that crazy “products” like derivatives were a big part of the crisis, I noticed a job opening in NY for financial pros capable of “developing innovative financial products, such as derivatives.”
I don’t think they’ve learned a thing since then.
PW given that without a bank bailout all these jokers would be on welfare I think we can say they were born on third base but had to bribe the ref to fix the game:)
Jeebus. How many here had the same advantages you list, and are in the bottom 50%? Apparently it takes only nice parents to have an unfair edge.
Why not just be honest and say you want that money for yourself, rather than putting up some arbitrary standard for who deserves their money and who doesn’t. Do you begrudge Steve Jobs his money? I think not. But condemning one man for wealth and allowing another a free pass is rank hypocrisy.
you just resent the fact that without these TITANS manufacturing water for all us nobodies and growing all the clothes for us wastelings – we’d all just be sitting on the roadside, begging, naked and thirsty.
on a more serious note
CASSIUS: Why, man, he doth bestride the narrow world
Like a Colossus, and we petty men
Walk under his huge legs and peep about
To find ourselves dishonourable graves.
rmm
2 cents, You left out W’s acceptance to Andover…and gentleman’s “C” graduation. You may be underestimating the influence of the Bush Empire. Just who was GHW Bush working for post Skull and Bones initiation, and why did Nixon pick GWWB to head the CIA after firing Dick Helms at a time when Watergate almost blew the lid of what E. Howard Hunt called “The Big Show” from his deathbed. Regards.
Google “warren buffet mistress”
Yeah, his wife and kids sure got a middle-class life.
Comments on Golisano amount to character assassination. Once again, the topic degenerates to his personal sexual and romantic life. Come on.