http://www.dailyreckoning.com.au/hedge-fund-managers-lawyers-get-rich-in-degenerate-economy/2007/04/24/ An independent perspective on the Australian and global investment markets Sat, 21 Nov 2009 17:27:32 -0600 http://wordpress.org/?v=2.8 hourly 1 http://www.dailyreckoning.com.au/hedge-fund-managers-lawyers-get-rich-in-degenerate-economy/2007/04/24/comment-page-1/#comment-2007 The Utilitarian Tue, 24 Apr 2007 22:29:26 +0000 http://www.dailyreckoning.com.au/hedge-fund-managers-lawyers-get-rich-in-degenerate-economy/2007/04/24/#comment-2007 It's sad you don't know how the financial markets really work. Go read "Capital Markets" by Mogdliani. Financiers make vast sums of money by efficiently allocating capital; that is, they accurately sense which companies need more money to produce more products, and take away money from companies who aren't serving their customers. And your "manufacturing jobs" issue is a canard. Who cares what the jobs are if they are replaced (which they HAVE, every year) by more jobs? And why should we care that it's manufacturing - if China can do it better, it's better not to have manufacturing jobs and rather have workers working office jobs, or retail jobs, or tech jobs. This is what capital markets do, and these people are compensated well for their services. It's sad you don't know how the financial markets really work. Go read "Capital Markets" by Mogdliani. Financiers make vast sums of money by efficiently allocating capital; that is, they accurately sense which companies need more money to produce more products, and take away money from companies who aren't serving their customers. And your "manufacturing jobs" issue is a canard. Who cares what the jobs are if they are replaced (which they HAVE, every year) by more jobs? And why should we care that it's manufacturing - if China can do it better, it's better not to have manufacturing jobs and rather have workers working office jobs, or retail jobs, or tech jobs. This is what capital markets do, and these people are compensated well for their services.

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