by Zack Beauchamp
Justin Fox sees a conflict within financial markets:
The profit motive is generally a good thing. It drives hard work, innovation, and the success of the capitalist system. But in financial markets, it's problematic. That's partly because of the zero-sum nature of most financial intermediation: Every penny in fees is that much less in investor returns. It's also the fact that most investors are incapable of judging whether their money manager or broker is doing right by them. And then there's the issue of risk, as illustrated by the recent financial crisis. … The untempered pursuit of profit, then, is almost never good for the customers of the financial sector. Over the long run, it may not be good for the financial sector, either.
The Dish 