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 .