Thursday, November 25, 2010

What good is Wall Street?

Much of what investment bankers do is socially worthless: "Why on earth should finance be the biggest and most highly paid industry when it’s just a utility, like sewage or gas. It is like a cancer that is growing to infinite size, until it takes over the entire body."


Mike W said...

Well, in employee in sewage could make a lot of poo go away, but an employee in finance can steal you alot of money.
On a more serious note, finance employees are like magicians and medicine men. No one likes what they do, but what would happen to the world if they stopped doing it? Someone has to take care of the esoteric forces that govern our cosmos

byron smith said...

Judge questions whether megabucks for traders is justified.

And Mike, in reply to your last line, see my latest post.

byron smith said...

Rolling Stone: Why isn't Wall Street in Jail?