It’s not rational. I guess no “hate” really is, but it’s especially discouraging to see it in this context.
You can complain all you want, you can sue all you want, you can put the perps in jail all you want but the little guy on the street that did everything correctly and honestly is still going to take it in the shorts for a long time to come. The only POS that will benefit from all this are the blood sucking lawyers. The honest hard working guy that palyed by the rules will still be out tens of thousands of dollars in lost equity on their homes that are now worth nothing and yet they continue to make their mortagage payments becasue they pledged their honor to faithfully repay the the loan they took out to finance the American Dream! Hey RS why don’t you do a story on the ambulance chasing scum bag lawyers that will be racking in the TENS of MILLIONS of dollars from all the law suits generated by this fiasco and how NONE of it will make it down to the people who actually lost something.
It seems to me that “Slim’s” vitriol would be better directed at bankers and regulators and politicians. Worse, a re-invigorated and independent legal profession and lawsuits – lots and lots of lawsuits – are probably the only real solution to this whole financial crisis thing, which is of course in reality a rule of law crisis. But the prevalence of undifferentiated hatred for lawyers typified by Slim’s comment bespeaks the unlikelihood of anything like that coming to pass: after all, people like Slim sit on juries.
The need for independent lawyering has never been greater, and much of it could be directed at Wall Street. There’s irony aplenty in that, of course, since we have a lot of unemployed or underemployed lawyers looking for something to do. Matching needs with providers is supposed to be a strength of the “free market”, so it appears ours must be faltering. At least when it comes to the legal profession.
It’s a chicken and egg problem too, to some extent: it’s not as if you can just file pleadings and then argue before a judge who is even handed. Decades of unapologetic favoritism toward government, bank and insurance company have taken their toll. Complaints of the have-nots against the haves are at this point not simply dismissed but greeted with derision and scorn.
Slim could be a Manhattan federal judge for all I know. I wouldn’t be shocked if that were true.