No you're right, banks do play a vital role. My large point is what percentage of your economy is derived from a service that really is a supporting one. In otherwords, say back in the day it took 2% of your economy to be financial services to support the remaining 98%. Now, it magically costs 5%? Admitted, some of that is from banks with overseas revenues and operations, but when you consider I we would call it "non-GDP supporting" income (fee's, arbitrage, shoddy mortgage services, etc). there is a bubble.