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Originally Posted by Phanuthier
As a personal belief, as an investor, or by definition of a business? If its the 3rd... I would say their actions should be done in the best interests of their investors. That obviously isn't the case here. Maximize profits, sure, but investments should be done in good faith (i.e. not packaging toxic assets to get AAA ratings).
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Historically, the US banking system has always been riskier than Canada's by a fair amount. They don't have an oligopoly, thus there is much greater competition for people's dollars.
Again, historically, US investors have been okay with this. Consider the massive rise in bank share prices since 2008.
Note that this isn't the first time the gov't massively bailed out financial institutions. I suppose if we go by the logic that these bailouts precede bubbles we can go all the way back to the S&L bailouts in 1989 and then say that everything since then should vapourize any time now (I actually do hear this from time to time from old people).
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I also believe in a lot tighter gov't control, for no other reason than 99% of the world has no idea what is going on, and as a result, they are victims. With less over-leveraging, I think top talent new grads will start to go more towards companies producing value, rather than financial (as Azure alluded to) to grow the American economy as a whole.
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I don't know what that means. I find it rather remarkable that Azure and even yourself find it odd that people would go towards the job that pays highest.
The real problem is that there aren't enough engineers around. We can also say that demand for high-skill people is rising. There's been more studies than I can count since the 90s that have stated that enrollment in fields such as CS and Engineering has been declining steadily.