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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Haim R. Branisteanu who wrote (89135)10/25/2008 10:14:00 AM
From: arun gera4 Recommendations  Read Replies (2) of 116555
 
Haim,

You have so many good analyses to offer but are always looking for villains. Some time ago, you had Russia, islamists - what I called the Bond movie villains. Now you are moving to the villains that the left loves to hate - those large corporations and Wall Street investment bankers.

Oversized compensations do not come just from greed, they come mainly from economies of scale. Banks and investment banks have generated economies of scale by designing electronic networks and software applications for acquiring capital from depositors and allocating it in a variety of investable paper or electronic securities which yield-seeking investors are hunting. Banks also serve to ensure smooth transactions among individuals and corporations that reduces idle time and keep the wheels of capitalism spinning.

Investment Banks are also the primary conduits for bridging large economies of the world through currency exchange and debt offerings. This improves trade and allocates capital to businesses worldwide that can provide better returns.

One of the tough jobs that Goldman Sachs and Morgan Stanley have been doing is helping to raise foreign capital. They have been fairly successful as US manages to run huge deficits and still has low interest rates. And now US needs more foreign capital going forward. So Goldman Sachs And Morgan Stanley have to be kept alive.

-Arun

>The axis of evil has a new meaning today, and it starts with Goldman Sachs, JP Morgan, Morgan Stanley, Merrill Lynch, AIG, Lehman, Bank America.... etc. those are the real enemies of the US society who where and are destroying the social fabric of our societies>
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