Alice in Billionaireland

It's confusing to see the snarling red faces of America's financial overlords. Of all the people on earth, what do they have to be angry about? They almost obliterated the world economy, and as punishment, we opened up the U.S. treasury and told them to haul off as much as they could carry. Meanwhile, everyone else is just praying the Medicare age won't be raised beyond 82.
However, their fury makes perfect sense if you understand that they live inside an all-enveloping fantasy world. You may have seen that Paul Ryan was recently spotted downing two $350 bottles of wine with Cliff Asness, a hedge fund manager. When a woman approached and criticized them for that kind of extravagance as Ryan plots to slash all social spending, Asness apparently said to Ryan "fuck her." Asness was previously known for staging a memorable public freakout about the Obama administration's bailout of Chrysler in an open letter titled "Unafraid in Greenwich, Connecticut."
So far so normal in 2011. But I don't think anyone's noticed this, from Asness's bio on his company's website:

He received an MBA with high honors and a Ph.D. in Finance from the University of Chicago where he was Eugene Fama’s student and teaching assistant for two years (he is still respectfully scared of Gene).

In other words, Asness is a protege of Fama, who's an extremely schmancy figure in right-wing economics. (And John Cochrane, a University of Chicago finance professor who was also eating with Asness and Ryan, is Fama's son-in-law.) This is the milieu in which Asness spends his days.
And here's the significance of that: Fama was recently spotted confidently telling everyone that the sky is green:

But suppose we buy into the more common negative current view of finance. There is still a big open question. Beginning in the early 1980s, the developed world and some big players in the developing world experienced a period of extraordinary growth. It’s reasonable to argue that in facilitating the flow of world savings to productive uses around the world, financial markets and financial institutions played a big role in this growth. Despite any role of finance in the current recession, are the market naysayers really ready to argue that worldwide wealth would be higher today if financial markets and financial institutions didn’t develop as they did?

As Paul Krugman pointed out, that's obviously false—developed world economies have grown more slowly since 1980 than before, while the fast growth of China had nothing to with the increased size of financial markets. (And just yesterday Krugman noted that essentially the same imaginary belief is held by another top right-wing economist.)
But here's what you have to understand: in the teeny-tiny world in which Cliff Asness and Eugene Fama live—i.e., the world of wealthy University of Chicago economics professors and their hedge fund manager former students—the sky actually does look green. While the U.S. economy grew more slowly starting in 1980, it did grow, and almost all of the growth in income went to people like Asness and Fama. Since they're such a small group, they and everyone they know has been doused with a gushing firehose of money. And because they have no imagination and no curiosity about anyone outside their mental circle, they assume that must mean that the rest of the world has gotten doused too. Moreover, it's all due to them and the "financial markets and financial institutions" they've created.
And that's why Asness and co. are burning with rage at any suggestion that maybe society should put some limits on the number of Indonesian street children they're allowed to eat. They've worked so goddamned hard for decades, manfully enriching all humanity with their brilliance, and merely asking for the smallest sliver of the extraordinary bounty they've created—and THIS is the thanks they get? What possible reason could anyone have to criticize them except jealousy and a secret desire to keep mankind poor and stupid and easily ruled?
If you lived inside their fantasy world, you'd be mad too.
P.S. This is from a recent article about Asness:

“His super-villains are intellectual dishonesty and ignorance,” says Jonathan Beinner, a managing director at Goldman Sachs Group Inc. and a former classmate of Asness. “When someone offers an opinion that Cliff feels is incorrect or dishonest, whether it be related to investments, politics or pizza, he feels it is his duty to stand up, even if it’s not in his best interest.”

...Look, obviously the sky is bright green, because if it weren't and people were just dishonestly and ignorantly claiming it was, my friend Cliff would stand up and DEMAND THE TRUTH, no matter the personal cost to him. The only possible alternative explanation is that here in the financial stratosphere we're all incredibly vain people who live in a fantasy world, and part of our vain fantasy is that we're courageous truth tellers. So clearly we're on firm ground with this sky-is-green stuff.