I was just sort of a going to sort of explore the ramifications of having an outsize financial sector. I don't think banks and financial instruments are inherently evil, but i do think there is something wrong when there are people making billions of dollars and never actually producing anything of tangible value. A lot of these people are profiting off other people's losses in a literal zero sum situation. It's masely a giant casino. And casinos are not beneficial to society as a whole. They are parasitic. Absolutelyean. But i would, i would accent that to say that any type of, any institution, or any individual who braids on the basis of debt is themselves an anti social
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As a $60 billion a year investment bank engaged in market making and asset management for equities, fixed income, commodity and derivative securities for large institutional clients, Goldman Sachs, having been founded in 1869, is arguably the world’s most recognizable name on Wall Street. Known for attracting some of the best financial talent, it is both respected and feared, in some cases being accused of “ripping their clients off” in the relentless pursuit of profits. Defenders of firms like Goldman Sachs make a big deal about how they’re instrumental in the efficient allocation of (financial) capital, but one could argue the concentration of highly intelligent and motivated individuals operating what amounts to a glorified casino is a gross misallocation of human capital, robbing other critical sectors of talent that would otherwise have gone to engineering real solutions, not financial ones.
