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Does Banking Contribute to the Good fo Society?

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THINKING WE ALREADY KNOW THE ANSWER TO THIS $140 BLN QUESTION
"Quelle horreur, some smart people are starting to question whether banking serves a redeeming social function," observes the Naked Capitalism blog. "Of course, in the abstract, it does. Banking (or more accurately, extending credit) is essential for commerce. But any essential support function, if it overpriced in relationship to its true value, becomes a drag on the productive economy. And our modern system is extracting a very large toll relative to its actual worth."
SOURCE:   Naked Capitalism

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