The Quiet Coup
Johnson lays out his numbers: from 1973 to 1985, America’s financial sector never earned more than 16% of the domestic corporate product. But by the early 2000s, it was earning 41%. It turned a chunk of these profits into lobbying, repealing Depression-era prudential regulations separating banking and investment banking. In other words, freeing banks to gamble with taxpayer-guaranteed funds.
https://www.zerohedge.com/markets/financial-coup-seized-america
Johnson lays out his numbers: from 1973 to 1985, America’s financial sector never earned more than 16% of the domestic corporate product. But by the early 2000s, it was earning 41%. It turned a chunk of these profits into lobbying, repealing Depression-era prudential regulations separating banking and investment banking. In other words, freeing banks to gamble with taxpayer-guaranteed funds.
https://www.zerohedge.com/markets/financial-coup-seized-america
The Quiet Coup
Johnson lays out his numbers: from 1973 to 1985, America’s financial sector never earned more than 16% of the domestic corporate product. But by the early 2000s, it was earning 41%. It turned a chunk of these profits into lobbying, repealing Depression-era prudential regulations separating banking and investment banking. In other words, freeing banks to gamble with taxpayer-guaranteed funds.
https://www.zerohedge.com/markets/financial-coup-seized-america
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