Posting on the Nation‘s blog (Notion, 10/25/08), Jon Wiener quotes from a Los Angeles Times story on the hardships being endured by spouses of workers on Wall Street, where “the average income is $365,000, according to the Times, ‘although top-flight managers typically make many millions more'”:
“Wall Street wives are finding that they must defer dreams and fancy things,” the L.A. Times reported in a page-one story on Saturday. One wife, who had been looking forward to her husband’s retiring with “$10 to $12 million,” told the Times she was “so angry” with the stock market meltdown, which was “not in her plan.” The husband made $400,000 last year, “but there are no reports yet on what will happen to 2008 bonuses and options.”
The same day a page-one story in the New York Times reported on yard sales at foreclosed homes in working-class neighborhoods in California: “Three-year-old Marita Duarte’s tricycle was sold by her mother, Beatriz, to a stranger for $3–even as her daughter was riding it.” The mother had lost her job as a floral designer two months ago, and now the house has been lost.
As one commenter on the post was obliged to quip: “Let them eat tiramisu!”