Wednesday 15 January 2014 12.15pm
our "friends in the financial services" are working for us all investing our pension funds in a world wide market to ensure we can have a dignified retirement.
And I don't think anyone objects to this.
I think people DO object to:
- the fact that most of these fund managers do nothing more or less than follow indices, yet still claim enormous management charges (i.e. reducing your chance of a good retirement) which are then passed on to the employees via huge bonuses, and;
- the demonstrated lack of morality of huge chunks of the financial services industry over the last decade or so.
If someone chooses to work in an industry which is commonly perceived to be hugely overpaid, untrustworthy, and driven by values that most people find immoral, then I don't find it at all surprising that those people are viewed as immoral themselves.
...if you press it, they will come.