Carlin: Wall Street Owns Washington

Shareholders Gone Wild Are Destroying The Economy


COMPANIES are the building blocks of the modern world. America has some 6m of them employing 120m people and controlling $30 trillion-worth of assets. Emerging markets are catching up: the number of Chinese companies increased by 80% in 2004-08. Globally 3m new firms are registered each year.

 

But are companies so good for the world? Enron and Lehman Brothers were not. Corporate debacles have scorched the global economy: the IMF calculates that the financial crisis produced total bank losses of $2 trillion. They have also led to a collapse of trust in business: a recent survey of trust in the professions found that businessmen and bankers came last, along with politicians.

Read more: http://www.businessinsider.com/shareholders-gone-wild-are-destroying-the-economy-2013-3#ixzz2MRz538Ri