In Defense of Beleaguered Bankers

If you're a banker facing the very dire prospect of having your salary capped at $500,000 a year, it probably seems as if the absolute nadir has been reached. Sadly, though, there's yet a further spiritual level to sink to: the one where Slate's Jacob Weisberg comes riding in on his chariot to defend your honor with an earnest editorial.

The "peasant revolt," as he charmingly characterizes the general opprobrium currently being heaped upon bankers, is not only misplaced since most employees of Wall Street firms are not directly responsible for the current disaster, but, he opines, "even under a different system, we will need an energetic and creative financial class, and shooting the wounded won't help us get one back."

Okay, everyone, do as Jacob says and be kind and forgiving to bankers, otherwise hoards of formerly ruthlessly ambitious and money-hungry masters of the universe will be leaving the profession to teach special ed or run organic food co-ops, and then where will we be?

The Case for Bankers [Slate]