(via Krugman and the NYT)

The financial services industry has claimed an ever-growing share of the nation’s income over the past generation, making the people who run the industry incredibly rich. Yet, at this point, it looks as if much of the industry has been destroying value, not creating it. And it’s not just a matter of money: the vast riches achieved by those who managed other people’s money have had a corrupting effect on our society as a whole. Read More

My friends in the financial sector call me a hater. Liz get’s dirty looks for echoing these exact sentiments on a regular basis. It might take someone like Krugman to get this notion accepted by the main stream…