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View Diary: I Agree With Jamie Dimon (6 comments)

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  •  Let's never forget (5+ / 0-)

    the difference between "business" and "finance", and particularly the penchant for manipulating "finance" to get gain without product.

    Business earns its money, "finance" steals it.

    Fake Left, Drive Right . . . not my idea of a Democrat . . .

    by Deward Hastings on Mon May 14, 2012 at 11:54:57 AM PDT

    •  Business vs finance (0+ / 0-)

      I don't know I agree that they always earn their money.  I don't see it as nearly that big of a gulf.  There are plenty of companies that "make stuff" that salivate on the thought of making profits the way Wall Street does.

      The auto companies all used to have a captive finance department.  They were guilty of the same shenanigans as most of the other banks.

      The producers have been squeezing labor, and taking the profits of increased productivity.  Wages have been largely stagnant since the 70's.  

      That isn't making money by selling better product, or increasing sales.  It is profiteering off of their workers.

      Business isn't any hero.  They may be marginally better because they sell a product, but they're willing to take any shortcut and dirty trick to get there.  

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