> Finance is a very important industry that adds a lot of value. perhaps, but > The great recession after 2008 and the great depression both show what happens

> Finance is a very important industry that adds a lot of value. perhaps, but > The great recession after 2008 and the great depression both show what happens when finance stops working. shows the problem with your comment. The "recession after 2008" is not the problem, the previous 30 years of finance capitalism and deregulation (starting with the mortgage interest deduction and securitization in the late 70s) is. Justifying our horrendously corrupt system this way -- by pointing to the basic utility in banking, lending and financial instruments -- is like saying McDonalds is great because food is good.