JBurkett19, here’s an interesting article on the usefulness, or uselessness of the banks.
In his recent New Yorker article, reporter John Cassidy asks “What Good is Wall Street?” Cassidy writes that Wall Street once helped build up new industries, by providing the capital they needed to grow and prosper. But these days, Cassidy says, it’s only investment banks that are prospering. Cassidy is the author of “How Markets Fail: The Logic of Economic Calamities,”