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12/1/10: What Good is Wall Street?

KUER 90.1
Published December 1, 2010 at 11:12 AM MST
Image by ScramEd/Creative Commons via flickr
Image by ScramEd/Creative Commons via flickr

By Doug Fabrizio

Salt Lake City, Utah – In his latest piece for The New Yorker, business journalist John Cassidy asks "What Good is Wall Street?" He says that while American businesses are creating innovations like the iPhone or Lipitor, the most profitable industry "doesn't, build or sell a single tangible thing." Wednesday, Cassidy joins Doug to explain why he thinks most of what investment bankers do is socially worthless.

  • Read What Good is Wall Street" at the NewYorker.com
  • John Cassidy is the author of How Markets Fail: The Logic of Economic Calamities
    , just out in paperback.

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