Friday 25 October 2013

The Movers And Shakers Of Money

This is a short post flagging an article which is readable both in terms of content and length.  It asks us to like Hedge Fund traders for their work in clearing up the mess that has resulted from many of our recent financial fiasco's.

It is by Frances Coppola and centred on the Co-operative Bank imbroglio that has many of the unlovable features of some of the current difficulties across the banking sector.

Back in the 19th Century before the modern way of dealing with rubbish came about it was up to householders etc. to be responsible for their own waste disposal.  Most were bad or very bad at it.  Consequently, there came to be profit made from dealing and disposing of rubbish.

So there were Flying Dustmen whose business it was to get hold of what they could and whenever possible recycle it for profit.  Although in social class terms they ranked among the low, some of them could make a tidy living and then go on to more respectable trades, such as grocery or beyond.

Much like Hedge Fund traders might be from any class but when they have made money they can go upmarket fast and be one of the most socially mobile groups in our economy.

As Grannie used to say, where there's muck there's money.

1 comment:

  1. "some of them could make a tidy living"

    As Noddy Boffin did in Charles Dickens' novel "Our Mutual Friend".