Tom Wolfe launches an intra-class war on Percy and his fellow hedge fund managers in Portfolio, the new Conde Nast business publication.  The piece is way too long (8 web pages!) for you to actually read.  Here's my summary:

• Hedge fund managers are more vulgar than any vulgar person before them could have ever imagined being.

• Good = The Wealthy, Old Money, CEOs, Investment Bankers, Team Players, the Entitled.

• Evil = The Superwealthy, New Money, Hedge Fund Managers, Traders, Lone Wolves, the Aggressive.

• Hedge fund managers can't get into the most prestigious clubs or sit on the boards of the most prestigious non-profits (Metropolitan Museum of Art, MoMA), but they want to.

I suppose there is no harm in the country club set and their surrogate, Tom Wolfe, actually believing we want to join their clubs; we don't begrudge them the use of whatever coping mechanisms they need to maintain their sense of dignity.  However, country clubs and other measures of social stature are merely the bread and circuses we provide the Old Money to keep them from getting too restless.