Adrian, I think what you experience is simply business as usual. It doesn't seem so unusual to me - my boss has his favorites that he'll conspire with and in a way I do too.

I don't think you should make too much out of it, however, I do think you should take the opportunity to ever so gently let him know what you think of some of the employees he is talking about. If he is considering firing someone who you don't think deserves to be fired, let him know. In a nice way, with good arguments.

Maybe you can use your 'special' position to exert some influence and keep some sort of justice.

Other than that... work sucks. Business sucks. People are assholes.