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Financial Totalitarianism: The Economic, Political, Social and Cultural Rule of Speculative Capital

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  • Teresa Binstock
    Financial Totalitarianism: The Economic, Political, Social and Cultural Rule of Speculative Capital Wednesday, 12 June 2013 By Max Haiven Truthout
    Message 1 of 1 , Jun 12, 2013

      Financial Totalitarianism: The Economic, Political, Social and Cultural Rule of Speculative Capital

      Wednesday, 12 June 2013
      By Max Haiven
      Truthout
      News Analysis

      At the end of May, it was revealed that a new bill for the regulation of the banking and financial sector was, for all intents and purposes, drafted by Citigroup. This is only the latest in a long list of what can only be called legalized corruption at the highest levels of American power, which has ultimately led to no meaningful policy or legal change in the wake of the 2008 financial crisis. Avid readers of intrepid Rolling Stone journalist Matt Taibbi and others cannot help but be sickened and struck by the impunity and hubris of America's financial elites, even as astute students of history will point out the previous moments when the power and influence of financiers has overshadowed economics and politics.
       
      Totalitarianism is not an inappropriate term....

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