WHY THE MOTU ARE WHINING

There's a nice piece in New York Magazine that describes how the MOTU are upset that their world was rocked. It provides one of the rationales they rely on to justify their obscene income:

...belief shared on Wall Street but which few have dared to articulate until now: Those who select careers in finance play an exceptional role in our society. They distribute capital to where it’s most effective, and by some Ayn Rand–ian logic, the virtue of efficient markets distributing capital to where it is most needed justifies extreme salaries—these are the wages of the meritocracy. They see themselves as the fighter pilots of capitalism.

The real problem is they didn't allocate capital efficiently. In fact, many of them contributed to wasting as much as $4 Trillion while still collecting millions in income.