Saturday, March 10, 2012

still we hear and see about growing financialization when we have in fact growing securitization

the market mediating  of credit holdings is a signifigant trend since WWII

  packaging corporate and household  obligations
 and then  building evolutes of these securities is what contemporary hi fi is all about

and the rise of  funds has  aggregated these holdings and centralized their mangement

effectively this is a clear new stage in the socialization of capital

the key players now  those at the commanding heights of capital
 operated outside or above the actual outfits  that extract the social surplus