Lots of double counting. Goldman does something; JPMorgan bets against it or invests in the Goldman package. Also, they might call a merger "business" although the fees represent a much smaller amount. You can do quite a bit to get the answers you want.
On Tue, Jul 20, 2010 at 12:07:49PM -0500, raghu wrote: > On Tue, Jul 20, 2010 at 9:59 AM, c b <[email protected]> wrote: > > I think the Senator Ted Kaufman reports that five Wall Street firms' > > business constitute 60% of GDP. > > > > > That doesn't seem right. How exactly does he measure "Wall St business"? > > I have heard estimates that finance (including insurance and > real-estate not just "Wall St") accounted for >40% of all corporate > profits at its peak, but I assume that this has corrected somewhat in > the last 2 years. > -raghu. > > > -- > "It's going to be fun to watch and see how long the meek can keep the > earth after they inherit it." > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
