Banks Becoming Worthless to Society
Much of what investment bankers do is socially worthless. The New Yorker's John Cassidy says banks modern iteration is far removed from its historical role of funding business.
Wall Street’s role in financing new businesses is a small portion of what it does. The market for initial public offerings of stock by U.S. companies never fully recovered from the tech bust. During the third quarter of 2010, just thirty-three U.S. companies went public, and they raised a paltry five billion dollars. Most people on Wall Street aren’t finding the next Apple or promoting a green rival to Exxon. They are buying and selling securities that are tied to existing firms and capital projects, or to something less concrete, such as the price of a stock or the level of an exchange rate.
A new study estimated the untapped potential of wind energy across Europe.
- A new report calculated how much electricity Europe could generate if it built onshore wind farms on all of its exploitable land.
- The results indicated that European onshore wind farms could supply the whole world with electricity from now until 2050.
- Wind farms come with a few complications, but the researchers noted that their study was meant to highlight the untapped potential of the renewable energy source in Europe.
French newspapers report that the trial hasn't lived up to expectations.
- The French government initially invested in a rural solar roadway in 2016.
- French newspapers report that the trial hasn't lived up to expectations.
- Solar panel "paved" roadways are proving to be inefficient and too expensive.
You want one. Now you may be able to survive one.
Photo credit: Jie Zhao / Getty contributor
- Cats live in a quarter of Western households.
- Allergies to them are common and can be dangerous.
- A new approach targets the primary trouble-causing allergen.