Wednesday, May 30, 2012

Wall Street Feels Steamrollered

When Obama recently enacted some modest regulations that affect Wall Street, the response was predictable of those on top of a hierarchy. Paul Krugman reports that that Wall Street is whining and trowing temper tantrums. He reports, "They're taking Obama's very mild criticism of financial excesses as a person insult."

From studying hierarchies, we know that people at the top take any challenges to their position very seriously. What appears as a small change to outsiders looks totally different to a person at the top, as they are used to doing what they want unchallenged, not having to consider the effects of their decisions on anyone else. Maintaining their hierarchy is a pressing priority.