Quote Originally Posted by Misifus View Post
However, things like Wall Street, banking, insurance, etc., are merely transfer payment industries. They are secondary to the real economy. These folks really don't do anything but find ways to skim money off of what they transfer around. There needs to be a recalibration and many heads need to roll.
To a large extent true, but many people fail to appreciate how necessary those money-moving industries are, and how central the ability of money to seek return without government trying to tell it where to go has been to the economic success the US has achieved in the past. Not saying those industries couldn't use some changes - though again they have to share responsibility and the need for change with Main Street and Pennsylvania Ave - but talking about eliminating them or putting them under government control is beyond naive.

It's worth noting that nobody complains about the money-movers when bubbles are in their up phase.