Dude! Joe's Jottings, Mostly Junk

Jim’s sports analogies [on Goldman Sachs] are misplaced because while sporting events must inevitably have winners and losers economies don’t. TRADING has winners and losers but Goldman is an INVESTMENT bank (worse still, they are now a bank holding company) pretending to be on the side of economic growth. Trading relies on finding and exploiting inefficiencies in the system while investing grows the economy. Trading is a parasite on investing. I’m not saying to ban it, I AM saying that technology has enabled outfits like Goldman to be such efficient parasites that they threaten the survival of their hosts.