It's a lot more than electric bits. Banks and other financial institutions allocate capital in the economy. By efficiently and effectively injecting capital into the right companies/sectors, the economy and standard of living will be drastically improved. It is in our best interest that it is the smartest and brightest making these decisions. Of course they should be compensated for these incredibly important services they provide.

But that was my point. Financial institutions USED TO inject capital into companies. Now they inject MOST of their capital into other financial instruments. Their 'investments' are actually just wagers - bets - because nothing is ACTUALLY manufactured and people are not actually serviced. Financial institutions should be outlawed from 'investing' money in any other financial institution or instrument.