Because a lot of pool maintenance companies, gardeners/landscapers, maids, personal shoppers, tailors, jewelers, marinas, and luxury goods sellers are going to have a lot less business.
Sure, you can play the class envy card. You can enjoy the schadenfreude. Right up until all the caterers are out of business and you can’t find one for your next occasion.
Slightly mitigating the loss of incomes will be the employee exodus to other banks where they can still make a few bucks.
And who (besides Citi and AIG employees) should be the most upset about this? Try Corzine, Paterson and Bloomberg. What kind of hit will this cause to tax revenue?
Wow. Just Wow.