Quote:
Originally Posted by JPhillips
The financial industry is a huge problem. There can play a vital role in efficient distribution of capitol, but greed and lax regulation have allowed the financial industry to explode their profits while providing very value for society. It's become a place to get rich quick, consequences be damned. A healthy financial sector should be providing benefits to society, but it's hard to see our current finance kings doing much besides enriching themselves. Returning to Glass-Steagall, adding a transaction tax, putting limits banks' ability to issue credit cards, etc. would help return the industry to it's primary function.
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Agree with this. And they benefit from things like deposit insurance and a Too Big to Fail subsidy, without any real cost the individuals that work at these firms.