Thursday, September 1, 2016
Wall Street Does Not Do God's Work
The CEO of Goldman Sachs once stated that Wall Street does God's work. That boils down to three things that Wall Street banks provide to society. This article examines each of the benefits that Wall Street bankers, doing God's work, provides to society. It argues that Wall Street banks do not do a good job of doing God's work. It turns out that Wall Street does a very job of serving itself. Just prior to the financial crisis, Wall Street payrolls added up to around $500,000,000,000. They got paid very well for creating and selling financial products that defrauded home buyers and the investors who bought the derivatives. Without government intervention the financial system would have collapsed and we would have been left with a Godless society.