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> This point is completely removed from politics and CEOs No, it's not. I happened to see the biggest investment banks' technology departments from the inside

> This point is completely removed from politics and CEOs No, it's not. I happened to see the biggest investment banks' technology departments from the inside (i.e. I worked on very core technologies), and this statements is just simply false. Yes, there's a lot of software development going on, but it's quite a slow-moving animal. They _used to have_ a lot of cutting-edge stuff, but nowadays most of these are superceded by better engineered implementations available to the public. And this is a big struggle for them, the more they've invested in proprietary IT decades ago, the more money they made with it around the late 90's, and the more difficult it is now to move towards industry standards.

mimiflynn 13y ago
I've been working at banks and financial institutions for years, and am currently working at a large investment bank and do not agree with you. Yes, these large institutions have to support older technologies, but they are still creating innovations in the way the author suggests. There are several products out there available to the public that are better than what some banks are putting out, but the products banks are making for their core clients that aren't the general public as very good and relevant to those niche users.