So THAT’s what this mess is, ‘Innovation’

From The Huffington Post:

Amid throngs of bankers arguing that new regulations should not impede on financial “innovation,” Volcker pushed back, blasting Wall Street’s increasingly complex financial products as useless to economic growth. In what seems to have been a shot at exotic securities, he named the ATM cash machine as the most successful financial innovation in the past 20 years, the Times reported.