Bankers Don't Know Enough About Business

 

Lester Thurow's piece on the American financial community (Economic Issues, April) was extremely perceptive, especially when he compared the objectives of foreign bankers (to help their industry) with those of American bankers (to maximize their profits).

Most American bankers I have known are quite ignorant of business. They were hired out of college or grad school by other bankers who were hired right out of school -- and so on. How can they possibly understand a business?