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In reply to the discussion: In your opinion do Wall Street and the Investment Banks serve a societal purpose? [View all]A HERETIC I AM
(24,380 posts)21. What do you mean by "providing savings"? n/t
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In your opinion do Wall Street and the Investment Banks serve a societal purpose? [View all]
el_bryanto
Mar 2015
OP
I don't know about 60 years; rather more money would have to be set aside up front
el_bryanto
Mar 2015
#8
Oh, really? Care to elaborate? It only took the USSR about 15 years to put the first man into space
KingCharlemagne
Mar 2015
#32
OK...I really have only one response to that completely absurd comparison.
A HERETIC I AM
Mar 2015
#33
Typical . . . resort to insults and invective when you can't respond to
KingCharlemagne
Mar 2015
#36
I meant only to note that the institution(s) of Wall Street and the investment banking
KingCharlemagne
Mar 2015
#57
Using the USSR as a paragon might be the greatest vindication of private capital imaginable. nt
Dreamer Tatum
Mar 2015
#64
The USSR: so efficient in its central planning that it doesn't exist anymore.
Dreamer Tatum
Mar 2015
#67
You trumpet the USSR and then accuse me of preferring wealth concentration.
Dreamer Tatum
Mar 2015
#73
It wasn't efficient in its planning. It did what we are doing now, in a slightly different way.
sabrina 1
Mar 2015
#94
Slapping my forhead or banging it against the wall is not an insult. (Edited)
A HERETIC I AM
Mar 2015
#53
The USSR managed to construct an enormous number of public works projects at the local and
KingCharlemagne
Mar 2015
#62
First of all, nowhere in this thread did I say investment banks were "absolutely necessary"
A HERETIC I AM
Mar 2015
#74
I meant only to note that there is no writ in Holy Scripture for the institutions
KingCharlemagne
Mar 2015
#58
Is the roll of wall street/investment bankers necessary to accomplish that however?
el_bryanto
Mar 2015
#11
I'm not saying as it exists now it could replace them; but it could grow to fill that roll. nt
el_bryanto
Mar 2015
#18
I hear what you are saying, but that "new" entity would essentially be an investment banker.
Hoyt
Mar 2015
#37
A place to put savings so that it can grow more than stuffing it in a mattress. (nt)
jeff47
Mar 2015
#72
If charging a fee to move money from point A to point B serves a social purpose, then I suppose.
closeupready
Mar 2015
#12
How do you feel about truckers charging a fee to move food from the fields/packaging plants
el_bryanto
Mar 2015
#14
OK - but the truckers are paid cash right? Or do you favor a cashless economy? nt
el_bryanto
Mar 2015
#24
Why are you so dismissive? I asked a follow up question and you responded with an eye roll
el_bryanto
Mar 2015
#31
Not a jibe at you, but I believe you demonstrate a lack of imagination here -
closeupready
Mar 2015
#65
Your post illustrates why (as I responded to el bryanto) I didn't want to get into this.
closeupready
Mar 2015
#52
Not really. Or, the societal purpose they serve (allocating resources) could be
KingCharlemagne
Mar 2015
#34
Sadly, many retirement plans are dependent on them. So I said "yes" but could be better served
Coventina
Mar 2015
#38
That's the key point. Our economic system and standard of living right now are dependent on them
Hoyt
Mar 2015
#48
Our "modern, complex society" sucks rotten eggs in so many ways. I'm certain we could do better.
hunter
Mar 2015
#42
of course - at least under any system that is going to be in place for the foreseeable future
Douglas Carpenter
Mar 2015
#47
Without investment bankers etc how many people would be able to afford homes until they
Thinkingabout
Mar 2015
#56
Yeah, let's make the world a million times less liquid and see how that works for you.
Dreamer Tatum
Mar 2015
#63
They existed under FDR. They just have to be controlled and taxed like he did. n/t
pampango
Mar 2015
#77
Even under communist rules, Russia had a Central bank that exists to this day.
Agnosticsherbet
Mar 2015
#80
Nods - I don't know if many people here believe they shouldn't be more tightly regulated and
el_bryanto
Mar 2015
#98
Sorry, but that is two seperate questions. Does Wall Street serve a societal purpose?
Rex
Mar 2015
#93
Business ownership puts billions of $$ into society and makes many of the things listed in
cbdo2007
Mar 2015
#96
Yes, but their reach and power have become so overgrown and distorted that
TheKentuckian
Mar 2015
#100