THE JEKYLL & HYDE IN THE HOUSE

Sometimes the biggest ideas come in the smallest wrappings. Consider this morning's New York Times story: "Bonus Season and Wall Street May Face Nothing but Zeros." Ponder this and you are pondering one of the central story-lines to the history of humanity....!

From the very first days in which humanity gathered into societies -- be they in caves or jungles or cities -- the heartbeat to the plot has always been the same: The few & the many. The few who have or earn or steal or conquer the wealth; the many who are left with what there is left. The few posit several rationales -- we're smarter, tougher, more committed. The many posit their rebuttals -- they're luckier, crueler, colder.

Whatever rationale one chooses to accept, generally they must learn to accept this Darwinian law of life. Usually grudgingly, until those times when the grudges erupt into revolutions.

But back to the lack of Wall Street bonuses this year. When you read -- or perhaps personally know -- some of the sharks who swim such waters, you can arrive at a two-edged conclusion. These are by and large decent citizens; but distinguished by a redoubtable conviction they've earned what they have, and you take it from me if you can!

To put an "ism" on it, this is Capitalism at work. Like all "isms" it has a Mr Hyde and Dr Jekyll face. Hyde has transformed this ideology and passion for power into great societies with great wealth and success. Jekyll has transfixed this ideology into an inexorable force which must and does keep conquering all in its path. It might be called the glacier of glory.

So another year-end is here. For Wall Street...for the big banks...for the big corporate conference rooms...for the power-brokers throughout the citadels of the East Coast Establishment. With or without bonuses this year, they will still be among the "few" next year. The "many" next year may be many-ier than ever since the Great Depression. What will we do with our grudge...?