Is the financial service industry doing anything for society? I mean is there a VALUE ADD or is it just getting more and more out of the value adding channel?

Not sure? Ask MBA colleges – the financial service industry is a big saviour. Whether it be ICICI, Hdfc, Kotak, Indiainfoline, – all their arms banking, life insurance, asset management, etc. are all big employers. They create jobs which the fresh MBA hates -but still takes up anyway.

The seniors …or somebody has created a feeling that only those who are good for nothing are FORCED to go into sales. So even as the media on one side is screaming that life insurance agents make 40% commission, it is not getting anybody in sales. Paradoxical is it not?

But what about the industry? What does the Great Warren Buffet think? Remember his story? No? Read on..

http://www.fool.com/investing/general/2010/05/28/wall-street-is-robbing-us-blind.aspx?source=ihpsitota0000001&lidx=3