Quote: (07-21-2013 09:07 PM)scorpion Wrote:
Quote: (07-21-2013 07:07 PM)pegador Wrote:
I agree there are many bankers who are crooks, but to make an assumption on everyone based on the actions of a few, that's just stupid. I work in finance for a bank and while there are definitely a lot of assholes without ethics or concerns for others, there are also just as many people who really do noble things in finance for the betterment of society.
That goes for any profession... lawyers, doctors, salespeople. Not everyone is a crook out to screw over others.
Do you actually believe this? Are you talking about investment or commercial banking? I suppose at least commercial bankers can say they help people purchase homes and plans their finances.
But no one goes into investment banking for any reason except to make as much money as possible. In fact, if you worked in investment banking and made it known to your colleagues that your intentions were to do noble things for the betterment of society, you would almost assuredly become the laughingstock of the office.
People within the financial services industry, including investment banking, do commit acts that lead to the advancement of civilization.
Companies that create huge amounts of value have depended on investment banks to obtain the financing they needed to create that value. Numerous markers for health and wealth have exploded upward worldwide over the past 60 years, and innovations fueled in part by financial institutions have played a positive role in that.
However, I do agree with those who criticize the upper echelons of finance (and corporations in general) for playing a game in which they use their money shape the laws of the US government (and other governments) to allow themselves to consolidate ever increasing amounts of wealth at the expense of everyone else.
This rigging of the system will not likely end well for anyone involved - which is all of us - if it continues unabated. This blurring between finance and politics in the United States is the thing that should be brought to peoples attention, criticized and fixed.
Some people involved in Occupy Wall Street cited this corruption as their main reason for participating, but they were largely drowned out by those who were content to demonize all finance professionals.
Many within the Occupy movement spent quite large amount of energy on harassing stockbrokers, securities traders and investment banking analysts; they went so far as physically trying to stop them from going into work in the morning.
If they focused more of that energy on their elected officials in Washington DC, something positive would have been more likely to happen.
Demonizing financial professionals is ineffective and will not constructively change corrupt policies created by the the encroachment of finance into US politics.
In order to make such changes, it would require a popular movement which puts pressure on those who are chosen, sworn and paid to be accountable to the American people: our politicians.