More Envy. More Resentment...

Well, it has turned out to be Matthew Yglesias week here, hasn't it?

I know a number of you aren't thrilled, but hey; when he stops saying stupid stuff, I'll stop writing about him. Given the way things are going, I don't see either happening soon. Case in point:

I read something last night about the origins of the Securities and Exchange Commission and it’s frankly pretty hysterical looking back at the prophesies of doom that were made about FDR’s socialist innovation.

It's interesting that that's what made an impression on him. Personally, I'd probably centered my thoughts on (a) what was the SEC orginally charged with regulating and why, as well as (b) whether the SEC succeeded in its original mission over both the short- and long-terms, and (c) whether there are possible parallels to the present situation.

Then again, that's just me. I tend to concentrate on the boring stuff... You know, meaningful facts.

Anyway, what I wanted to point out was yet another example of how "Wall Street reform" is, for Matthew at least, much more a matter of personal issue than a matter of public policy:

The short story is that very rich people tend to be small-c conservative about changing the way things work because, hey, they’re already rich. The status quo works well for them. And Wall Street is full of rich people. But we shouldn’t listen to them.

Instead, evidently, when it comes to the merits of financial industry regulation, we should be listening to a 20-something Young Partisan Hack with a degree in Philosophy, no meaningful education, training or experience in financial matters, and who possesses a gigantic chip on his shoulder when it comes to other peoples' wealth.

Right.

Comments

[Randy Rager]

I wouldn't trust Matthew to sweep my floor without close adult supervision.

And I don't hire people that need that sort of supervision.

[Richard McEnroe]

"Instead, evidently, when it comes to the merits of financial industry regulation, we should be listening to a 20-something Young Partisan Hack with a degree in Philosophy, no meaningful education, training or experience in financial matters, and who possesses a gigantic chip on his shoulder when it comes to other peoples' wealth."

Why not? Isn't that what we voted into office?

[BillT]

Wall Street is full of rich people. But we shouldn’t listen to them.

Nope. Otherwise, we might find out how to get rich, too, and that would *really* frost MY's 'nads -- on the assumption he has any.

[Coomanche Voter]

Gee Matthew, I don't listen to those on Wall Street.
They don't come down to my house and ask to talk to me; and I suspect that they don't visit your house either.

But I do talk to knowledgeable investment advisers out here on the West Coast and I do make my decisions based on that advice. It usually helps to consult smart people on all manners of topics.

But as for you little Mattie, I'm wondering just what expertise you have that I could learn from. I've taken valuable advice from all manner of people who know something (and more particularly know what they're talking about). I got valuable advice from a Cajun drill sergeant with an 8th grade education--where the topic was staying alive when folks in black pajamas are shooting at you. He didn't have much of an education, but he knew his stuff.

The trick in talking to experts or advisers is figuring out who really knows their stuff and who doesn't. When you're dealing with a pathetic young poseur such as Mattie, the decision isn't very hard.

[just passin bu]

For Matt, the obvious source for "authoritative" advice comes from academics and journalists; in other words, the same type of parasite on the system that he is himself.

That way, he knows in advance that whatever he is told will suit his worldview, and that he won't need to work harder at life, or to judge himself with any sort of honesty.

GIGO...it should be the motto of the Liberal Yapping Machine...

[madame smith]

Really rich irony, Dennis. I should resent you for it ;)

Instead, I'm thinking about resenting obscene admissions hoarders who get exclusive, coveted slots at Dalton and Harvard that deny worthy/worthier others, only to obscenely splash the fact of their good fortune not shared with the unwashed benighted all over their CVs and land insider privileged jobs as elitist faux-bo hoi polloi commenters who pound out column inches in expiation of their personal opportunities and out of resentment of those having even greater advantage than they due to skill or luck, which, upon reading most people b/c they be stupid regular folk just go "huh?" over.

[ThomasD]

I know a number of you aren't thrilled, but hey; when he stops saying stupid stuff, I'll stop writing about him.

So Matty today, Matty tomorrow, and Matty forever is what you are really trying to tell us.

[michael]

Sorry, that's www.ydiot.net ! Good stuff contra Yglesias the ydiot.