Monopoly Finance Capitalism: First Republic Bank Goes Down

When Marx predicted the concentration of capital in fewer and fewer hands, he was talking mostly about industrial capital. But here we are in the sinews of finance capital. A third bank has gone done and has been taken over by JP Morgan. Where were the “regulaters”? Nowhere to be found. Under neoliberal capitalism big banks are free to speculate with no consequences. When they fail, instead of being dissolved, they are taken over by larger banks.
Read in WSWS

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