Investment banks like Goldman Sachs are in fact "doing Gods work"

skiminnesota

skiminnesota

Active member
My apologies to Goldman Sachs for singling them out in the title, but it got your reading this far am i right?

Onto my main point, the specific investment bank makes no difference, Morgan Stanley, JP Morgan (not chase) Bear Stearns, etc. Make more of a material impact for the better in every day americans lives than companies like Apple. The thought struck me as i checked my local best buy for a new Iphone 5. sadly, they were sold out, i guess my 3 year old droid will have to suffice, o no.

Apple makes billions of dollars by peddling consumerist shit that in no way makes a material improvement in the lives of the people buying their crap model after model. OMG my screen is bigger, the camera is better, angry birds will be so much better. yet people dont protest apple for raking in billions peddling shit made in china that again, doesnt actually make peoples lives better.

Then you contrast Apple with an investment bank like Morgan Stanley, who connects buyers and sellers, makes markets, and facilitates economic growth. yet the vast majority of americans hate investment banks a whole hell of a lot more than they hate the company that again, makes their "omg new iphone"

This is idiotic. Who makes a more meaningful impact in Bobbi Jo's life down in Alabama? the company that allows her to play angry birds in a wonderful retna display? or the company that allows her to get a zero percent car loan to drive her kids to school, and then be able to drive to work? Because if you think zero percent car loans are possible without JP Morgan, or the likes, than stop reading now. Or when Bobbi Jo's company decides to expand and needs to raise capital, guess what, you local neighborhood bank isnt helping you out with that one. Or how about how bobbi jo can get cheap food because of hedging positions large agricultural producers take?

Rant over, im probably delusional, but the vast majority of americans just dont get it .

 
>mfw people are consumerist whores>mfw people don't even know apples profit margin, how it's products are made, etc.

>mfw the economy collapsed and the banks were all over the news

>mfw people are unbelievably ignorant and close-minded
 
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No kanye is the only god. and his work is being a rapper. Duh.
 
America hates success right now. If someone is incredibly successful they probably are a bad person and should give their money back according to alot of people in America.
 
Agree OP. I have worked at two investment banks the past two summer ( doing wealth management and corporate finance) and its amazing how uninformed the average joe is. People have NO idea what the heck these banks actually do for the economy. Granted that sometimes there are dirtbags in the firms that do stupid shit that give them a really bad rep, but all in all most people are pretty good and are hard workers. People hate on them for there massive salaries , etc but in realty the people who hate couldnt get the job ther ein the first place because there to stupid.

Another huge point that I love that op brought up. America HATES success now. Everyone wants it. Not everyone can have it. Really makes me sad when people ask me what I do and I say oh I work at blah blah investment bank doing m and a and I get shat on. Im a honest worker and would never do inside information or any of that crap. Fuck the average joe they can lick on my nut sack as im driving to the bank

/ drunk rant
 
According to the good people of the U.S.A, if you're successful, you are a bad person for not spreading your wealth among the lazy.
 
Yeah that is a nice idea, but the problem is that a lot of these firms create "economic growth" based on some mystical proprietary algorithm that actually doesn't do anything real.
 
Oh and then when they accidentally fuck the whole thing up and cause a global recession it costs the taxpayer a shit ton of money to keep their country from reverting to a 3rd world hellscape while the majority of the banks continue to turn high profits despite the rest of the economy being a complete shithole.

/endrant
 
Its not just banks you single minded fucktard. Most companies right now are turning huge profits. The markets are rallying and investors are very confident in a lot of companies right now. Stop hating the banks you idiot. If you are jelous they make so much money, why dont you get a job there? Oh wait, your to fucking stupid
 
Greg Smith, author of the book "Why I left Goldman Sachs" might beg to differ. His opinion (from having working on the inside) seems to be that they have evolved from an institution that serves its customers in to one that profits by taking advantage of them. It's an interesting read. Check it out (if you haven't already).
 
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