Category Archives: Financial oligarchy

The New Gilded Age – La Belle Époque

Thomas Piketty, professor at the Paris School of Economics, isn’t a household name, although that may change with the English-language publication of his magnificent, sweeping meditation on inequality, Capital in the Twenty-First Century. Yet his influence runs deep. It has … Continue reading

Posted in Capitalism, Financial oligarchy, Inequality, Wealth | Tagged , , , | Leave a comment

Lack of Regulation of Shadow Financial Institutions

Beyond the banking world, a parallel universe of shadow banks has grown in the form of hedge funds and money market funds. They’re outside the reach of conventional financial regulation, prompting authorities to plan introducing new rules to prevent the … Continue reading

Posted in Banks, Financial capital, Financial crisis, Financial oligarchy | Tagged , , | Leave a comment

The Global 1%: The Transnational Ruling Class

This study asks Who are the the world’s 1 percent power elite? And to what extent do they operate in unison for their own private gains over benefits for the 99 percent? We examine a sample of the 1 percent: … Continue reading

Posted in Elite, Financial oligarchy, Power | Tagged , , | Leave a comment

The modern European bankocracy and the doom loop

Not excessive government spending but excessive bank lending lies at the root of the eurozone crisis. Here’s why the bankers, not the people, should pay. What the Spanish and Cypriot bailouts tell us, therefore, are three things: first of all, … Continue reading

Posted in Banks, Crisis, Debt, Financial oligarchy | Tagged , , , | Leave a comment

Uneconomics

Economic crises are opportunities to challenge orthodox economic ideas. But might the current crisis also be an opportunity to challenge the power of orthodox economics and economists more generally? Particular, technocratic forms of economic analysis and language now dominate public … Continue reading

Posted in Economists, Financial crisis, Financial oligarchy | Tagged , | Leave a comment

Secret Fed Loans Gave Banks Undisclosed $13B

The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing. The Fed didn’t … Continue reading

Posted in Banks, Financial oligarchy, United States | Tagged , , | Leave a comment

En Europa el poder es de Goldman Sachs

La historia podría colmar todas las expectativas de los adeptos a las teorías del complot. ¿Dónde está el poder mundial? La respuesta cabe en un nombre y un lugar: en la sede del banco de negocios Goldman Sachs. El banco … Continue reading

Posted in Banks, Europe, Financial oligarchy | Tagged , , | Leave a comment

Como o capital financeiro privatizou o Estado nos EUA

O ex-economista chefe do Fundo Monetário Internacional, Simon Johnson, escreveu, em 2009, sobre o golpe silencioso que levou à “reemergência de uma oligarquia financeira americana”. Johnson deixou claro que não tinha a intenção de usar “golpe” como um floreio retórico … Continue reading

Posted in Financial oligarchy, Financial system, United States | Tagged , , | Leave a comment

The emergence of the Frankfurt Group has turned back the democratic clock

The real decisions in Europe are now taken by the Frankfurt Group, an unelected cabal made of up eight people: Lagarde; Merkel; Sarkozy; Mario Draghi, the new president of the ECB; José Manuel Barroso, the president of the European Commission; … Continue reading

Posted in Crisis, Europe, Financial oligarchy | Tagged , , | Leave a comment

Argentine president calls for an end to anarchy and a return to “real capitalism”

During Thursday’s meetings of the Group of 20 in Cannes, Argentine President Cristina Fernández for G20 leaders to put a stop to the current “anarchistic economic capitalism” and regulate the markets, not the countries, to go back to what she … Continue reading

Posted in Argentina, Capitalism, Financial oligarchy | Tagged , , | Leave a comment