Wall Street Kicks Off New PR Campaign by Referring to Public Outrage As an ‘Overreaction’

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We've taken the liberty of mocking up their first PSA. Photo: Everett Bogue; Photos: Getty Images, iStockphoto

The financial-services industry feels misunderstood. They would like the little people to stop hating them, but since they are mostly numbers people, not word or "feelings" people, whenever they try to express themselves to poor or regular people it comes out wrong, and reactions are at best: "Ah, shut up, go cry on your pile of money," and at worst: "YOU SHOULD BE IN JAIL." It's very frustrating. Which is why they've decided to organize. The Securities Industry and Financial Markets Association, or what is left of it, is implementing a PR campaign to counteract their poisoned image. Bloomberg got ahold of some of the memos from their meetings, which provide some insight into their ideas and goals, which include "embracing change" and accountability and defending themselves against unjust characterizations.

The securities industry “must be perceived as part of the solution, which will allow it to better defend against populist overreaction,” the documents, prepared for a June 17 meeting of SIFMA’s board, said.

Bolded by us, because that is very clever, an "overreaction." Like, was it really necessary for the populace to freak out and lose its shit because a number of banks collapsed all at once and millions of people lost their homes and their jobs? Why does the populace have to be such a crazy bitch? The populace should look into that. Maybe talk to someone about their erratic mood swings and the way they are always compulsively blaming others when the problem is clearly inside their heads and has nothing to do with the securities industry or how it blew up whatsoever.

Anyway, SIFMA has clearly got their message down, and this time they'll for sure avoid looking stupid. But how to reach the people?

No one wants to hear from the big guys right now, so they've decided the message is best buzz-marketed by friends in the heartland, the regional securities firms and brokers who are influential in their communities and with local members of Congress.

“The foot power of the private client group has proven to be effective in blunting populist messages in the past,” said board member Paul Purcell, chief executive officer of Milwaukee investment firm Robert W. Baird & Co., according to the minutes of one meeting.

Right? They're going to just bludgeon that Commie sensibility right out of them. Between their facility with language and use of blunt force, this plan should go down swimmingly.

Wall Street Begins Campaign to Thwart ‘Populist Overreaction’ [Bloomberg]