The French are rioting. British workers will shortly be going on strike. The rich are threatening legal action. The world is in revolt against the activities of bankers. And as far as the wealth community is concerned, sentiment has taken a marked turn for the worse.

The latest news is that members of the wealthy Latin American Nadder family have filed a $612m suit against Merrill Lynch, claiming it inappropriately liquidated an account to cover losses in other accounts. Merrill denies the charge, after filing a suit against the Nadders eight months ago, alleging that they owe it $80m.