Re:Airbus Corruption Scandal May Lead Straight to the Top
by wallace_f on Saturday October 14, 2017 @08:49PM
(#15475204)
>I am no defender of the banking industry but to say that there hasn't been value added by any of these innovation seems pretty silly.
Come on, you are responding to an argument I never even made. To restate what I said: the value added by securitization is dubious, and likely even negative. I asked what really is the value of modern financial innovation which you addressed. I maintain that it is a fair question to wonder if that value is worth the cost Wall St has on the economy.
All three of your posts in this topic are directed at me, and are unnecessarily negative and condescending, while two of them contain glaring factual errors. What is going on here?
Money market funds and mutual funds are innovations which have helped people save for retirement. Venture Capital funds have enabled many tech companies to flourish. The Commercial paper market has made payroll at large corporation much more efficient. Securitization of debt although it can obviously be abused is what allows people to get financing to buy homes and get car loans. These were all innovations. I am no defender of the banking industry but to say that there hasn't been value added by any of these innovation seems pretty silly.