Wednesday, April 13, 2011

Messy Capitalism - Bankers Behaving Badly (Forbes)

Messy Capitalism

Is The Financial Sector Gobbling Up The U.S.' Would-Be Entrepreneurs?

Carl Schramm, 04.13.11, 06:00 AM EDT

When the financial sector grows too large, it drains talent from entrepreneurial ventures.

image

Meet a banker today, and you can be certain that within minutes he will be complaining about the epidemic of "banker bashing." How unfair it is of politicians and media populists to blame the financial industry for the Great Recession. Don't they understand what it is the bankers bring to an economy? Not just all the financial products, which grease the wheels of global business, but also all those jobs and all that wealth.
Take a drive through Greenwich, Conn., the home of the hedge fund industry, and see for yourself what a formidable service the financial sector has done for the town's roofers, pool builders and hedge trimmers.
READ FULL POST HERE

No comments: