Friday, March 9, 2012

Financial Markets Are Not Faceless, Their Face Is That of the Oligarchy | Truthout

Financial Markets Are Not Faceless, Their Face Is That of the Oligarchy | Truthout: When you scrutinize their share-holders and the profile of their rulers, you find a close mix of politicians, businessmen, whether Leftist or Rightist… Those agencies are not disembodied either, they are private companies that make the most of inside information. Whereas, before the crisis, as economist Jacques Généreux observes, nobody cared what they were doing, rating agencies have become key actors because they provide alibis to impose austerity. This does not mean there is a plot, but it is simply the expression of structural affinities within the dominant class.?

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