Beyond casino capitalism
In These Times
by David Moberg
12/08/08
Until recently, the wizards of Wall Street believed they had abolished — or at least ‘managed’ — risk so well that they could turn the global economy into a casino. By playing the roles of both the gambler and the house, they were always guaranteed to come out the winner. In the process, they borrowed deeply and redoubled their bets, multiplying the risk inherent in a capitalist economy. It worked for a while. In 2007, the financial sector reaped 40 percent of all U.S. corporate profits, as debt-driven speculation proliferated in a dizzying array of financial devices...
http://www.inthesetimes.com/article/4066/beyond_casino_capitalism
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=capitalism
http://freepage.twoday.net/search?q=Wall+Street
http://freepage.twoday.net/search?q=global+economy
http://freepage.twoday.net/search?q=David+Moberg
by David Moberg
12/08/08
Until recently, the wizards of Wall Street believed they had abolished — or at least ‘managed’ — risk so well that they could turn the global economy into a casino. By playing the roles of both the gambler and the house, they were always guaranteed to come out the winner. In the process, they borrowed deeply and redoubled their bets, multiplying the risk inherent in a capitalist economy. It worked for a while. In 2007, the financial sector reaped 40 percent of all U.S. corporate profits, as debt-driven speculation proliferated in a dizzying array of financial devices...
http://www.inthesetimes.com/article/4066/beyond_casino_capitalism
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=capitalism
http://freepage.twoday.net/search?q=Wall+Street
http://freepage.twoday.net/search?q=global+economy
http://freepage.twoday.net/search?q=David+Moberg
rudkla - 9. Dez, 09:37
