You said — “...except those job losses will echo through the entire economy.”
I would rather employ a computer than those guys in the financial sector and the computer would do a better job anyway. More important are the guys who have jobs building things, manufacturing things, and doing other jobs for human necessity in the economy.
Those financial guys can go get jobs as greeters at Walmart... LOL...
The things that those guys build, manufacture, etc. have to be financed. As important as the builders and manufacturers are, they don’t do it for love. There has to be a paycheck waiting at the end of the week.