Most of what Wall Street does is socially worthless, so what good is it really, John Cassidy...

|By:, SA News Editor

Most of what Wall Street does is socially worthless, so what good is it really, John Cassidy writes. "Big banks are forever trying to invent new financial products that they can sell but that their competitors, at least for the moment, cannot," he says. Most of these "innovations... serve little purpose or... blew up and caused a lot of collateral damage."