Well, having worked in the defense industry in the 90's and having watched dozens to hundreds of people getting laid off as Clinton cut spending, I think I can address your statement.
Since there are no guarantees in life, I guess I don't have empathy regarding those affected in this story.
I am currently going through a career change having been idled by the real estate crisis.
Do I ask for empathy, do I care what others think? No.
To the working world, I am simply an asset to be used and discarded as needed. It is my responsibility to make sure that I have value in the job space. Yes, it's a cruel world but that is the way it is.
I fully agree. Nonetheless, I am still sorry to see Lehman and Bear Stearns fail, just as I am sorry to see the domestic auto industry collapse. Does this mean I support government bailouts or protectionist measures? No, it's up to them to take care of themselves, but I'm not happy when things don't work out.
BTW, the blue bloods will be fine--their families still have enough money and connections that they'll never be standing in the unemployment line. But lots of hard-working middle-class kids who made it to Wharton on scholarship and went to investment banks which seemed to promise more money than they'd ever seen in their lives won't be so lucky.