Bannon's father, Marty Bannon, worked and saved his whole life only to get clobbered by the financial crisis. I'll let the Richmond Times-Dispatch deliver the elevator pitch: "When Steve Bannon saw Wall Street’s recklessness hit home and the impact on his father," the paper reported in November, "it fueled his rage against a system he now describes as 'socialism for the wealthy,' where benefits accrue to those at the top while the downside is spread among the masses." The Wall Street Journal this week put the elevator pitch into long form. Marty Bannon, it seems, had put his faith in the stock of AT&T Inc., the company for which he worked for half a century. When the financial crisis hit, the senior Bannon didn't turn to his wealthy and successful financier son for advice. He panicked and sold, losing more than $100,000. The Journal reported: "There were many factors that turned Steve Bannon into a divisive political firebrand. But his decision to embrace 'economic nationalism' and vehemently oppose the forces and institutions of globalization, he says, stems from his upbringing, his relationship with his father and the meaning those AT&T shares held for the family.
Bannon concurs: “Everything since then has come from there,” he told the Journal. “All of it.”
I agree, it wasn't right; that should never have happened to the American people