Do you realize what this country and this world would look like without the existence of business operations referred to as capital formation?
There would be only poverty.
That's what banks do and that's what Wall St does. They create the foundation which provides companies and individuals the opportunity to borrow, lend, and invest. Without such foundation, we would be living in the stone age.
When being a big banker was much more an honest job following moral and sensible rules then I would agree with you. That is not however what it has become. These guys are sucking up far more productivity by being crooks. It is the only job in the world where you can make that kind of money just by playing with other peoples money. Including money from the taxpayer and the fed. The fed being the most crooked bankers of them all. The more they get into everything then the more gutted the economies of the world become. I really don’t have the ambition to try and explain what I have learned over the last few years. And I have learned that it is pointless to explain. The information has been out there for anyone who wanted to look and see. MBS’s, Mers ,unnatural speculative tricks, Using taxpayer money near zero percent interest and loaning it back to the taxpayer way above that, and much more
And don’t forget HFT where they see your bid and place theirs ahead of you.
you sound like Lou telling Bud how important the Stock Market is to society. I bought that line in the 80s too.