This guy is really ignorant. It's the same mentality that thinks the valley is impervious to bubbles and inflation.
Yup - More than that - he thinks his limited value system applies to everyone.
Maybe he's never considered people do those jobs because they like them, because they are good at it, because it's dynamic, because it's lucrative, because they think it's an essential part of our society?
You know, similar reasons that people do startups.
Sure it's dynamic and lucrative, but I think the last few months have shown that shilling securitized high risk mortgages is anything but an essential part of society.
You can point at the current financial crisis, but there is absolutely no doubt that financial services are a fundamental part of society.
The current crisis owes a lot to greed, poor governance and ignorance (not only of the bankers, but the stockholders, pension funds, etc, etc, etc - i.e. everyone)... Even so, this isn't unique to the financial industry.
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This guy is really ignorant. It's the same mentality that thinks the valley is impervious to bubbles and inflation.
Yup - More than that - he thinks his limited value system applies to everyone.
Maybe he's never considered people do those jobs because they like them, because they are good at it, because it's dynamic, because it's lucrative, because they think it's an essential part of our society?
You know, similar reasons that people do startups.
Sure it's dynamic and lucrative, but I think the last few months have shown that shilling securitized high risk mortgages is anything but an essential part of society.
You can point at the current financial crisis, but there is absolutely no doubt that financial services are a fundamental part of society.
The current crisis owes a lot to greed, poor governance and ignorance (not only of the bankers, but the stockholders, pension funds, etc, etc, etc - i.e. everyone)... Even so, this isn't unique to the financial industry.