Sunday, November 9, 2008
Sudden consolidation raises questions about regulation, consumer impact
So then, the "crisis" caused by the derivatives created by these banks was used to consolidate their power, whilst the central banks who created the money that fueled the boom, via the Bretton's Wood break with gold during the 1970's, have gained control of the major banks via IMF/World Bank style conditions forced onto the large investment banks. This is a marriage of government and corporations, it is corporatism, or, corporate fascism. Given that we need regulation of money to maintain our wealth, our wealth does not appear safe in this circumstance.