General Discussion
In reply to the discussion: In your opinion do Wall Street and the Investment Banks serve a societal purpose? [View all]Rex
(65,616 posts)Absolutley. Does investment bankers? No they leech capital from society at a harmful rate. There only goal is to produce revenue at whatever expense to society. Was the economic meltdown in 2008 benefitial to society? IMO, investment bankers are the leech class of the financial sector. They produce nothing that a credit union cannot do for society and without being parasidic toward the population. Wall Street is an essential tool, it is the parasidic class that has damaged the way it works. Not the working class, many of which are dependent on Wall Street for their retirement and savings.
Again, investment bankers are part of the predatory class in society, whereas credit unions are a benefit to society. Wall Street WAS benefitial to society, until the parasites got control over it and bought Congress critters to deregulate the market.