Commentators are bashing Sen. Harry Reid of Nevada for his lies about Mitt Romney’s tax situation during the last election. They are calling it cynicism that has changed the nature of Washington politics. But, why be appalled? Politics were down and dirty from the beginning. Consider the stand-off between Jeffersonians and Federalists. John Adams and Alexander Hamilton were tarred in every way possible for their belief that a strong central government was needed. Jefferson was slandered in return. There have always been operatives to do the dirty work of campaigning. The difference with Harry Reid is that he is a sitting senator who was lying rather than a hack. It is probably good that most citizens pay little attention to the political process because they miss the madness of campaigning and make up their minds in their own ways.
The Mighty Fall
When I worked briefly in an investment bank decades ago, bankers talked to God, if God made an appointment. They were name-droppers of the powerful and up-and-comers. Staff had to show the proper obeisance and tolerate their whims. Arrogance was oxygen. How the mighty have fallen. It is a never-ending lesson that power comes and goes. And, who is up today is also-ran tomorrow. Just because one has made it to the top, there is no need to walk on those beneath. I have no idea what the inside of an investment bank is like today, but it wouldn’t be surprising if there is more humility — and fear. An investment banker, for all of his financial skill, was at heart a salesman, selling ideas for deals, mergers and refinancings. Since the regulators have stepped in, it is less fun than it used to be and paychecks are smaller. No wonder bankers are leaving.