Monopoly Capitalism Root Cause of America's Problems

We essentially have a merger in the US of Goldman Sachs and the Treasury Department. So we don’t actually know who’s running the Treasury. We have a political crisis, in which we’ve had a coup by the bankers. And the bankers don’t only control banks but also all the large corporations. The way governance has been changed, we give financiers direct control over our largest corporations.

In Europe, when people invest $1 billion in Airbus, they get new machinery, new plants, new skills, and create jobs. When we invest in Boeing, a huge portion of that money goes straight out the backdoor and into the financiers who run the company.

The second [problem] is that US systems become more and more fragile. What we saw on Sept. 15, 2008, after the failure of Lehman Brothers, was how the entire financial system was tied together in such a way that unless a major infusion of money came at once, basically everything was going to go down. If you’re not able to move money around, you can’t move product around -- potentially a lights-out event. It’s pretty amazing that we would run our financial system so poorly, really."

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