Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
but not investment bankers.

What makes investment banking so unusual as an industry is that it is the "workers" (i.e. the investment bankers above a certain pay grade/ in certain jobs) that capture most of the income. A very small number of people get a massive benefit from a system whereby other companies are rules for financial profit and engage in large financial transactions (mergers and acquisitions, structured financing, securitization of future cahs flows, etc...) from which they can capture a big chunk of the income generated/captured.

This is the easiest way to get very rich very quickly (the other way is to be a high level manager of a big company, essentially the mirror image of the other - in effect the two sides collude to capture money from the company's future via financial engineering). And this is what drives the financiarisation of business - massive personal interest.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sun Jul 15th, 2007 at 05:20:43 AM EST
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