Daily Review – 2010-11-24

  • What Good is Wall Street? « The New Yorker – John Cassidy sets out to inquire into the social contributions made by the banking sector. While some of bank's classical business – raising money to enable companies to produce – indeed serves the good of society, Cassidy finds, this only makes up for a marginal part of their revenues, and even less of their profits. In the contrary, trading which does not "add to the pie" – but only shifts money – is often the main business model.

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