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Subject:  Re: OT: Man in the White Suit Date:  2/10/2009  8:48 PM
Author:  Lokicious Number:  25933 of 35909

Or do banks and mutual funds p#ss it into the wind?

Pretty much. Don't forget, mutual bonds don't actually provide working capital, anyway.

As far as I see, starting with Wall Street's con games and blithering idiocy that led to the bust (dot.coms make money by advertising other dot.coms, etc.) followed by the money laundering of mortgages, etc. very little of those record profits, including from lower production costs due to increased productivity, was put to good use as working capital, especially not in this country.

But the bigger concern is that this isn't just because Wall Street is a bunch of greedy buggers looking for a short term jump with no interest in deploying working capital to some further gain (which is, of