Why so mad?

Why all the anger? I read it in the news, I read it in comments under news articles, I read it on my facebook wall ... and I hear it often - there is a wild attack on the banking and financial industry.

There are so many advantages to having the banking industry. How can people not see that? It is unfortunate that the media only likes to highlight problems that arise from this sector. 

I will list a few advantages simply to rally against the stigma that's been formed :

The banking industry and the regulatory government bodies behind it, work together to protect your money. (If money is stolen from your account, or if your credit card is compromised, many times you will be reimbursed. Whereas if the money is stolen from under your mattress, no-one's looking to pay you back).

The banking industry is made up of professionals whose main job is to educate you and provide you with the best solutions for your financial needs

The banking industry offers thousands of jobs for people around Canada

The banking industry sponsors charities

Many banks pay for the continuous education and development of its staff

The banking industry allows you to borrow money in order to finance the essential things you otherwise cannot afford. It allows you to buy things, like real estate, which make for a good investment, and thus giving you the opportunity to make money. It has helped people become doctors, lawyers, engineers, and other professionals by lending them the money needed to finance their education.

All in all - the banking industry is the driving force behind our economy. It is the adrenaline that keeps a nation going strong. An attack on it, is not in your best interest, so calm down my friends - we love you.

The Wolf 'Off' Wall Street

More disturbing than Martin Scorses’ debauchery-filled depiction of Jordan Belfort is the Business Insider Steven Perlberg’s review on “The Wolf of Wall Street”.

While the movie has a finale with a moral theme attached to it, somehow it goes unnoticed to the general public, whose main take-away is the popular attack on crooked bankers and sales people. Jordan’s struggle with drugs along with his apparent internal conflicts and his incapability to feel self-worth are nothing but sad, however according to our friend Steven, the movie did not do enough to make Jordan look like a villain. Well Steven, I think your morals need a check – if this movie depicted anything, it is Jordan’s struggles, and his insatiable appetite for doing wrong, which in any decent man’s rapport falls heavily under the villain title.

It seems there is a wild fire being hurled on banks and bankers around the world, and although some of  our friends the scientists do much worse along with some of our best friends the politicians in terms of wars, nuclear bombs and destroying lives – let us allow Hollywood and the media, to direct attention towards the bankers that keep our economy running, and allow us in the west to stand richer as a whole. Let us move our trust to our politicians, as they now seem worthier of our money than investment bankers. And now without sarcasm, I say, what a shame.

I would like to continue to believe that many investment bankers on Wall Street have a conscience. Without a conscience, and a determination to do what is right, the industry will eventually collapse into abysmal nothingness taking with it all that has been built by moral victims. The "Wolf of Wall Street" is about a man who did not make it on Wall Street – he is not, in any way, a depiction of your average broker, investor, banker, sales person – and it’s a shame that many people miss this essential premise.

I am appalled that Steven has the permission to write his review without accurately stating as to who the audience was exactly, and to gleefully add insult to injury by making it seem as though we (bankers) would all approve of this behavior.

http://www.businessinsider.com/banker-pros-cheer-wolf-of-wall-street-2013-12#comments