Q&As: Failed Wall Street Boss Security

This is an answer to a question posted by an insisting reader.

He would like to know who provides security to the bank bosses behind the global financial downturn. However, we warn the reader that trying to link somehow financial wrongdoing on Wall Street and the City of London to Xe (the Private Military Company formerly known as Blackwater) is pathetic. We understand a young audience produces this type of queries. In this spirit, we would like to offer an answer.

The protection of VIPs is largely undertaken by the security industry. To be more specific, that applies when the surrounding environment is comparatively safe (e.g. cities in North American and Europe and emerging democracies such as Brazil, India, and Mexico). If the VIP security is to be provided in a dangerous zone, such as Iraq and Afghanistan, then the job is for PMCs.

The personnel hired by PMCs and security firms to provide security tend to be similar, i.e. former military or police officers. They are highly adaptable to the surrounding environment. In other words, the same team of security details could provide VIP security to Wall Street executives and officials from the Department of State in Iraq.

Many PMCs focus on both markets, but some do not.

However, as security deteriorates and public anger towards some of the probably 1000 bankers behind the global financial crisis is expressed physically, VIP security might devolve to the state. Why? It is in the public interest to protect innocent civilians: people angry for loosing their jobs and failed bank executives responsible for it deserve in the eyes of the law the same treatment.

This means that if violence towards bankers manifests, the state, ultimately the taxpayer, will have to pay for their security, which might indeed be subcontracted to the private sector.

It is not a matter of whether security details are sympathetic or not towards the VIPs they protect, it is their job. Just like you, they need to make a living.

Lastly, there are plenty of management vacancies in Afghanistan. We encourage those 1000 bankers behind the global financial crisis to apply for them. Swift (and successful) processing of their applications is likely.