28 дек. 2009 г.

Do Banks do God's work?

The banks would say they perform an important social functions: they lend money and help to create wealth.The Boss of the Goldman Sachs went further in this.He said that banks were doing the God's work.He also said sorry for Goldman's role in the financial crisis.Sociologist Niggel Dodd said that bank began to invest money to gambling risks and this risks had no relations with real sector of economy.The higher the risk the higher the return but nowadays banks discover a lot of ways of diversity of risks they began to take too much risks without loosing out and they began to see risk not as a sign of effective activity but as a mone making opportunity.Risk became something what can be sold and bought.Banks began to pump economy with easy money paying not enough attention to real sector of economy.

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