Once the successful businesses suddenly reach their end, once suddenly everybody wants to see money instead of credit there is no questioning the economic system, but the alleged culprits are looked for: a financial system gone crazy, unscrupulous credit granting, private equity pirates, absurd financial vehicles, untruthful ratings, fraud, rampant greed and naked self-interest etc.
In the 70s during the so-called first and second oil crises it was the oil sheikhs who took the blame, today it is the greedy bank managers and irresponsible speculators who take the blame.
Starting with the proponents of the market economy right across the camp of left-wing critics, there exists an uncanny unity with regard to the dominance of financial capital. »Financialization« is supposed to be the problem. A new form of capitalism, some call it financial capitalism. The story of powerful bankers who exploit the rest of us through their control of money and credit and who in the end caused the so-called financial crisis. Is the productive »real economy« the victim of parasitic financial capital?
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