What Rich People Mean By "Beneficial" Use of Capital

These days, it's not enough to simply direct vitriol at the rich; you must put the offenses of the rich in the context of society as a whole. It's not just that they dedicate their lives to decadence in a sea of want; it's that they want credit for it.

Today, Bloomberg's Max Abelson has a new story out, which is exciting, because Max Abelson's reporting beat is, essentially, hanging around very rich people and writing down the enormously vacuous and self-important things they say. Which is something that America needs to hear. His new piece is a trend story of sorts, focusing on several different former bankers for firms like Goldman Sachs and Lehman Bros, who left Wall Street to venture out into the world of entrepreneurship—targeting other extremely rich motherfuckers like themselves.

That is the notional setup. What follows are tales of home renovations including custom pools shaped like violins with neon light-up underwater strings, and a shower that sprays vitamin-infused water. But what really makes it special, as always, are the quotes from these very special Americans: incredibly wealthy people who got rich on Wall Street and then moved on to selling ultraluxury products to other incredibly wealthy people, leaving them entirely insulated from any wisp of the economic realities of the wider world. It takes a very special set of circumstances to produce quotes like this, from the former head of corporate equity derivatives at Goldman Sachs, and his wife:

"There's incredible inequality, but there's also incredible demand at the high end of the market," Wilkinson said. "That's just a reality of the world we live in."

She and Marquie described the business as a way for them to make an impact.

"Capital can be useless, or it can be very beneficial," Marquie said. "And it is important that people who have the capital are making it as useful as possible."

The business they are now in, which is "making an impact" in a "beneficial" way: "selling rights to Napa Valley wines before they're bottled to 'bankers [and] hedge-fund guys.'"

It is important that the revolution be nonviolent, in order to preserve these people's health for their work in the salt mines.

[Pic via]