The Ultra-Rich Are Meaner Than Rest of Us

What a shocker. Matthew Lynn writes in Bloomberg:
Monopoly Man

There is something surprising about a private banker warning his colleagues about the rich. It would be like a director of Volkswagen AG casting doubt on motorists, or the boss of McDonald’s Corp. distancing himself from people who eat fast food. Rather like valets, the main aim of the private banker is to court the wealthy.

At a conference in Zurich last week, the head of Barclays Wealth Management’s private-banking unit, Gerard Aquilina, appeared to issue a red alert about the richest of clients.

“Beware of the complexities of dealing with ultra high net worths,” Aquilina told his audience. “Demanding and often unreasonable” requests from them may create “impossible demands on the organization.”

Such as? Help with getting children into the right school, securing credit to buy property, or obtaining last-minute concert tickets, for example. Even worse, the richest of the rich turn out to be pretty stingy as well. They don’t even want to pay the full fee for all the services they demand.

It was strong stuff. But it was also an insight into the way the rich have changed over the past decade. They are, it turns out, a nasty bunch of people who are only getting nastier. And the banking industry only has itself to blame.

Read More in Bloomberg

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  • TheWrongStuff

    Filed firmly under the “No Shit” category.

  • TheWrongStuff

    Filed firmly under the “No Shit” category.

  • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

    Mr. Burns or Carter Pewterschmidt would look like mellow pensioners compared to some of the ass kissing the new ultra wealthy demand. Its the kind of pathetic insecurity that comes with the inability to develop self worth based on anything other than measurable $$.

    • Vox Penii

      Armchair psychoanalysis is useless…

      “The Judeo-Christian tradition
      says this is a world of sin, in which the weak suffer at the hands
      of the strong; that we should all be selfless and serve God and
      others, especially the sick and helpless; and that in a future ideal
      world—heaven—the lion will lay down with lamb, and the
      inescapable power of God will bring salvation to the meek and
      judgment to the wicked.

      “The Marxist socialist tradition says this is a world of
      evil exploitation, in which the strong take advantage of the
      weak. But we should all be selfless and sacrifice for the good
      of others, especially the needy—“From each according to his
      ability, to each according to his need”—and that the forces of
      history will necessarily bring about a future ideal world ending
      all harsh competition, empowering the oppressed and eliminating
      the evil exploiters.

      “Both religion and socialism thus glorify weakness
      and need. Both recoil from the world as it is: tough, unequal,
      harsh. Both flee to an imaginary future realm where they can
      feel safe. Both say to you: Be a nice boy. Be a good little girl.
      Share. Feel sorry for the little people. And both desperately
      seek someone to look after them—whether it be God or the
      State.”
      Stephen Hicks, Ph.D. “Nietzsche and the Nazis” (2006)

      • ShinyFriction

        Feel free to support corporate dictatorship and wage slavery. You fail to realize that you are one of the weak, and you are being exploited.

      • Andrew

        Any kind of psychoanalysis makes some people very uncomfortable.

      • GoodDoktorBad

        Another public service announcement from the man who sees a urologist when he needs a tooth pulled.

        • Andrew

          I think in this case you mean “pubic service announcement.”

    • Hadrian999

      i can sort of understand it,
      being born with that kind of wealth means ever having a real friendship impossible.

  • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

    Mr. Burns or Carter Pewterschmidt would look like mellow pensioners compared to some of the ass kissing the new ultra wealthy demand. Its the kind of pathetic insecurity that comes with the inability to develop self worth based on anything other than measurable $$.

  • Vox Penii

    “Businessmen are the one group that distinguishes capitalism and the American way of life from the totalitarian statism that is swallowing the rest of the world. All the other social groups- workers, farmers, professional men, scientists, soldiers- exist under dictatorships, even though they exist in chains, in terror, in misery, and in progressive self-destruction. But there is no such group as businessmen under a dictatorship. Their place is taken by armed thugs: by bureaucrats and commissars. Businessmen are the symbol of a free society- the symbol of America.”

    Ayn Rand, Capitalism: The Unknown Ideal

    • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

      and thus they employ the armed thugs? To beat, terrify and force compliance from the workers who serve them and desire only to also profit from their labor? They hire out armies, purchase the will of elected representatives, invest in communicating their desires by means unavailable to their fellow humans…and this is deemed fair?

      There is truth that life is unfair…by nature…but the maxim of my father is true…fairness exists only where you make it. Excess can be tempered by self restraint…and by forcible restraint of others when necessary for a civil, functional society.

      Across every spectrum of the political/religious scene stretch the same elementary values, enshrined and seen as necessary for a functional society. Murder, random violence, theft, etc are examples of the strong doing as they please…only to be reined in by the collective will and action of the weaker. Justice, from the Hammurabic Code to the Magna Carta and Napoleonic law, has always been the demand of less wealthy people, who expect only the smallest amount of equal treatment when compared to wealthy peers…and even this ever so small expectation is viewed as the barbarous encroachment of total anarchy or communism…but only by the people who take a certain thrill from committing any crime and going unpunished because of the influence that wealth can bring.

      Contrary to Ayn Rand’s assertion…business loves dictatorial leaders…because there is but one person you must sway…and that one person can enforce his will upon hundred of thousands or even millions with equal ease. Democratic or representative governments require infinitely more complex and expensive actions to manipulate, and thus we have watched decades of examples where business and repressive government (not of the socialist variety…but the fascist, the gangster, and warlord are well represented) collude and support one another comfortably, while railing against any form of governance that genuinely represents the citizens of any given country.

      The businessman of today is the artificially maintained echo of what generations have fought to destroy…the oligarch, the hereditary monarch, the single voice outweighing many others…acting not as a wise leader whose virtue has led him to power…but as an autocratic force endlessly seeking satisfaction through petty acts of repression, greed and violence.

    • Honuman

      That’s fine except it’s always funny how whenever I hear glorified nobilized ramblings about businesspeople in a reverential manner, there’s never any mention about the true nature of capitalism. It’s true nature is that there will ALWAYS be someone who’s in charge, making the money (or losing it) and others who do the work to support the people at the top. In a capitalist society, by it’s design, there will be people who earn more and those who don’t. Not everyone can be the owners or the higher paid earners because there won’t be the labor force needed to support those at the top. Maybe businessmen at one time were pioneers in breaking through that glass ceiling of society to influence the power broker elites that once held complete control over the public but I think we can clearly see the results of unregulated business…..greed and power at any cost with no allegiance to country, environment or your fellow man. Wonder what Ayn Rand would say today if she saw the results of Enron, BP, Blackwater, Monsanto etc.

      • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

        Judging by the nimrods regurgitating her spiel…we could probably hook up wiring to her coffin and let her spinning in the grave power a few cities.

    • Haystack

      On the contrary, the businessmen are usually the ones running the show.

      “Fascism should rightly be called Corporatism, as it is the merger of corporate and government power. ” –Benito Mussolini.

    • JasonW

      Instead of posting endless quotes by thinkers from the past. It’s his opinion. Putting “” around someone’s opinion doesn’t make it ‘fact’. Why not post a thought that actually formed in your own brain? I mean, what you are posting is propaganda cooked up by people to sway the masses towards Plutonomy. Capitalism has failed. We are in a plutonomy now. Perhaps we were in one before the collapse. But no ones got the balls to admit it. Those who caused it to fail are now using tax payers (workers) money to pay fines from behind the walls of companies rather than face Justice. This leads me to think that Justice itself has also failed. It has also been bought. The foundations of democracy, justice and freedom have been fundamentally corrupted by the very “businessmen” (actually, they are criminals) you hold so dear (and of course, everyone chooses to look the other way because their lives are still “ok”.) In time everyone will come to regret this.

    • Hadrian999

      amazing how capitalists have such rosy view of capitalism.
      dictators exist in capitalism but acknowledging them doesn’t give such a warm fuzzy patriotic feeling

      • Andrew

        It’s because their definition of “freedom” is one in which property rights trump all other rights, thus wealth has the freedom to do whatever it wants to the less wealthy, who by definition deserve it for not accumulating as much (so-called “laziness”).

  • Vox Penii

    “Businessmen are the one group that distinguishes capitalism and the American way of life from the totalitarian statism that is swallowing the rest of the world. All the other social groups- workers, farmers, professional men, scientists, soldiers- exist under dictatorships, even though they exist in chains, in terror, in misery, and in progressive self-destruction. But there is no such group as businessmen under a dictatorship. Their place is taken by armed thugs: by bureaucrats and commissars. Businessmen are the symbol of a free society- the symbol of America.”

    Ayn Rand, Capitalism: The Unknown Ideal

  • Vox Penii

    Armchair psychoanalysis is useless…

    “The Judeo-Christian tradition
    says this is a world of sin, in which the weak suffer at the hands
    of the strong; that we should all be selfless and serve God and
    others, especially the sick and helpless; and that in a future ideal
    world—heaven—the lion will lay down with lamb, and the
    inescapable power of God will bring salvation to the meek and
    judgment to the wicked.

    “The Marxist socialist tradition says this is a world of
    evil exploitation, in which the strong take advantage of the
    weak. But we should all be selfless and sacrifice for the good
    of others, especially the needy—“From each according to his
    ability, to each according to his need”—and that the forces of
    history will necessarily bring about a future ideal world ending
    all harsh competition, empowering the oppressed and eliminating
    the evil exploiters.

    “Both religion and socialism thus glorify weakness
    and need. Both recoil from the world as it is: tough, unequal,
    harsh. Both flee to an imaginary future realm where they can
    feel safe. Both say to you: Be a nice boy. Be a good little girl.
    Share. Feel sorry for the little people. And both desperately
    seek someone to look after them—whether it be God or the
    State.”
    Stephen Hicks, Ph.D. “Nietzsche and the Nazis” (2006)

  • GrokMonkey

    Changed? This sentiment has been echoed nigh identically since…well, since forever.

  • Anonymous

    Changed? This sentiment has been echoed nigh identically since…well, since forever.

  • Swimstarguy

    Try volunteering at a food pantry or a clothing drive and you’ll see that the nations poor are just as demanding and unreasonable as the wealthy. Personalities don’t change, just the demands do.

    • David Frost

      wow…how do stand yourself?

      I volunteer at the homeless shelter from time to time and I would say it is a far more complex issue than right wingers like yourself like to make it out to be.

  • Swimstarguy

    Try volunteering at a food pantry or a clothing drive and you’ll see that the nations poor are just as demanding and unreasonable as the wealthy. Personalities don’t change, just the demands do.

  • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

    and thus they employ the armed thugs? To beat, terrify and force compliance from the workers who serve them and desire only to also profit from their labor? They hire out armies, purchase the will of elected representatives, invest in communicating their desires by means unavailable to their fellow humans…and this is deemed fair?

    There is truth that life is unfair…by nature…but the maxim of my father is true…fairness exists only where you make it. Excess can be tempered by self restraint…and by forcible restraint of others when necessary for a civil, functional society.

    Across every spectrum of the political/religious scene stretch the same elementary values, enshrined and seen as necessary for a functional society. Murder, random violence, theft, etc are examples of the strong doing as they please…only to be reined in by the collective will and action of the weaker. Justice, from the Hammurabic Code to the Magna Carta and Napoleonic law, has always been the demand of less wealthy people, who expect only the smallest amount of equal treatment when compared to wealthy peers…and even this ever so small expectation is viewed as the barbarous encroachment of total anarchy or communism…but only by the people who take a certain thrill from committing any crime and going unpunished because of the influence that wealth can bring.

    Contrary to Ayn Rand’s assertion…business loves dictatorial leaders…because there is but one person you must sway…and that one person can enforce his will upon hundred of thousands or even millions with equal ease. Democratic or representative governments require infinitely more complex and expensive actions to manipulate, and thus we have watched decades of examples where business and repressive government (not of the socialist variety…but the fascist, the gangster, and warlord are well represented) collude and support one another comfortably, while railing against any form of governance that genuinely represents the citizens of any given country.

    The businessman of today is the artificially maintained echo of what generations have fought to destroy…the oligarch, the hereditary monarch, the single voice outweighing many others…acting not as a wise leader whose virtue has led him to power…but as an autocratic force endlessly seeking satisfaction through petty acts of repression, greed and violence.

  • ShinyFriction

    Feel free to support corporate dictatorship and wage slavery. You fail to realize that you are one of the weak, and you are being exploited.

  • Andrew

    Any kind of psychoanalysis makes some people very uncomfortable.

  • Honuman

    That’s fine except it’s always funny how whenever I hear glorified nobilized ramblings about businesspeople in a reverential manner, there’s never any mention about the true nature of capitalism. It’s true nature is that there will ALWAYS be someone who’s in charge, making the money (or losing it) and others who do the work to support the people at the top. In a capitalist society, by it’s design, there will be people who earn more and those who don’t. Not everyone can be the owners or the higher paid earners because there won’t be the labor force needed to support those at the top. Maybe businessmen at one time were pioneers in breaking through that glass ceiling of society to influence the power broker elites that once held complete control over the public but I think we can clearly see the results of unregulated business…..greed and power at any cost with no allegiance to country, environment or your fellow man. Wonder what Ayn Rand would say today if she saw the results of Enron, BP, Blackwater, Monsanto etc.

  • Mediadev

    at least they have their money to rot with

  • Mediadev

    at least they have their money to rot with

  • David Frost

    wow…how do stand yourself?

    I volunteer at the homeless shelter from time to time and I would say it is a far more complex issue than right wingers like yourself like to make it out to be.

  • David Frost

    So anyways since I have noticed a ridiculous amount of right wingers and even one social darwinist that apparently believes Adoph Hitler was a great man….I thought I would share a socioeconomic political philosophy that I have been getting into a lot here lately because my “leftest” irreverence towards capitalism is so deeply offensive to the Ron and Rand Pauls wannnabes of the world (check the link)…..

    http://en.wikipedia.org/wiki/Degrowth

    and for the SS reject…both my grandfathers served in the US army in Germany during World War 2. Our allied forces stomped your arian supermen into the ground and even made your great hero blow his brains out. So much for the power of social darwinism!

  • David Frost

    So anyways since I have noticed a ridiculous amount of right wingers and even one social darwinist that apparently believes Adoph Hitler was a great man….I thought I would share a socioeconomic political philosophy that I have been getting into a lot here lately because my “leftest” irreverence towards capitalism is so deeply offensive to the Ron and Rand Pauls wannnabes of the world (check the link)…..

    http://en.wikipedia.org/wiki/Degrowth

    and for the SS reject…both my grandfathers served in the US army in Germany during World War 2. Our allied forces stomped your arian supermen into the ground and even made your great hero blow his brains out. So much for the power of social darwinism!

  • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

    Judging by the nimrods regurgitating her spiel…we could probably hook up wiring to her coffin and let her spinning in the grave power a few cities.

  • Anonymous

    Another public service announcement from the man who sees a urologist when he needs a tooth pulled.

  • Andrew

    I think in this case you mean “pubic service announcement.”

  • Hadrian999

    is this a radical concept?
    if you are ultra rich all consequences to your actions are abstract,
    why be nice when there penalty for being a total ass?

  • Hadrian999

    is this a radical concept?
    if you are ultra rich all consequences to your actions are abstract,
    why be nice when there penalty for being a total ass?

  • Haystack

    On the contrary, the businessmen are usually the ones running the show.

    “Fascism should rightly be called Corporatism, as it is the merger of corporate and government power. ” –Benito Mussolini.

  • JasonW

    Instead of posting endless quotes by thinkers from the past. It’s his opinion. Putting “” around someone’s opinion doesn’t make it ‘fact’. Why not post a thought that actually formed in your own brain? I mean, what you are posting is propaganda cooked up by people to sway the masses towards Plutonomy. Capitalism has failed. We are in a plutonomy now. Perhaps we were in one before the collapse. But no ones got the balls to admit it. Those who caused it to fail are now using tax payers (workers) money to pay fines from behind the walls of companies rather than face Justice. This leads me to think that Justice itself has also failed. It has also been bought. The foundations of democracy, justice and freedom have been fundamentally corrupted by the very “businessmen” (actually, they are criminals) you hold so dear (and of course, everyone chooses to look the other way because their lives are still “ok”.) In time everyone will come to regret this.

  • Hadrian999

    amazing how capitalists have such rosy view of capitalism.
    dictators exist in capitalism but acknowledging them doesn’t give such a warm fuzzy patriotic feeling

  • Andrew

    It’s because their definition of “freedom” is one in which property rights trump all other rights, thus wealth has the freedom to do whatever it wants to the less wealthy, who by definition deserve it for not accumulating as much (so-called “laziness”).

  • Hadrian999

    i can sort of understand it,
    being born with that kind of wealth means ever having a real friendship impossible.

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