>I am no defender of the banking industry but to say that there hasn't been value added by any of these innovation seems pretty silly. Come on, you are respond

>I am no defender of the banking industry but to say that there hasn't been value added by any of these innovation seems pretty silly. Come on, you are responding to an argument I never even made. To restate what I said: the value added by securitization is dubious, and likely even negative. I asked what really is the value of modern financial innovation which you addressed. I maintain that it is a fair question to wonder if that value is worth the cost Wall St has on the economy. All three of your posts in this topic are directed at me, and are unnecessarily negative and condescending, while two of them contain glaring factual errors. What is going on here?