Iatus: I think it's interesting that we got this point. We you start talking about this, you come back to the political question. And their history, sure, their relationship is their relationship to the formal state. You cani like these peope aren't able to if you're in debt to them, or whatever. They need the system,. courts and goons. It's a weird paradoxical relationship between the people, my ancestors, et cetera, who left europe, often under the pretence of escaping the detpeonage; they were brought here as debt slaves. The united states was the last pseudo european country to actually implement bankruptcy laws.
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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.
