BlackRock’s Rise Shows the Dark Direction of Monopoly Capitalism, by Rainer Shea

Vampire Squid

Image by DonkeyHotey via Flickr

Updated: July 12, 2020

by Rainer Shea
Writer, Dandelion Salad
Rainer Shea: Anti-Imperialist Journalist, June 30, 2020
July 1, 2020

Matt Taibbi concluded that the 2008 Wall Street bailout had “built a banking system that discriminates against community banks, makes Too Big to Fail banks even Too Bigger to Failier, increases risk, discourages sound business lending and punishes savings by making it even easier and more profitable to chase high-yield investments than to compete for small depositors.” In this post-crash environment, the largest financial institutions gained more of a hegemonic grip than ever, with the five biggest banks having come to own almost half the industry by 2015.

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Meet BlackRock, the New Great Vampire Squid, by Ellen Brown

Capitalism Is Crisis

Image by Steffi Reichert via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog, June 22, 2020
June 23, 2020

BlackRock is a global financial giant with customers in 100 countries and its tentacles in major asset classes all over the world; and it now manages the spigots to trillions of bailout dollars from the Federal Reserve. The fate of a large portion of the country’s corporations has been put in the hands of a megalithic private entity with the private capitalist mandate to make as much money as possible for its owners and investors; and that is what it has proceeded to do.

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