A WNBTv PSA

“For three decades they had us convinced that the success of the financial sector should be measured not by how well it provides financial services to actual consumers and corporations, but by how effectively financial firms make money for themselves.”

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One thought on “A WNBTv PSA”

  1. “……..but by how effectively financial firms make money for themselves……”

    To this I would add ‘efficiently’ as an adjunct to ‘effectively’.

    If Financial Institutions are to be considered profit motivated concerns, with their shareholder wealth a priority, then this is the way it should be. If conversely they are tasked with facilitating the accumulation of ‘shareholder wealth’ for client consumers and corporations only then a ‘Nonprofit’ or ‘Cost-Plus’ model is warranted.
    One’s politics are used to choose between the two.

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