WHAT IS FINANCIALIZATION?
- Finance is the management of money. “Financialization” refers to the increasing power of finance over the economy.
- The financial industry’s share of the overall economy has tripled since World War II. The financial sector — Wall Street — finds a way to extract profit from every facet of our lives, our housing, our health, our education, and even our water.
- Letting finance write the rules and dominate the economy harms the rest of us. Rather than channeling investments to projects that support jobs, families and communities, Wall Street executives and money managers are buying our elected leaders and rigging the rules in their favor in order to extract wealth from communities.
- Wealth extraction in a financialized economy is not color blind. Wall Street targets communities of color, and especially women of color, for everything from predatory loans to higher rents to mass incarceration.
- Financial executives often take a short-term “take the money and run” approach, which leads to booms and busts and makes our entire economy more unstable.
14 hours ago Check out this great piece on the pay gap between CEOs and workers, as highlighted in @RepKatiePorter's questioning… https://t.co/3a8xgjHy2X
18 hours ago 🔥This one deserves a repeat! @RepCindyAxne questions JP Morgan CEO Jamie Dimon about stock buybacks at the big bank… https://t.co/VgtcmxNyPS
2 days ago There's a corporate lending bubble that might pop and soak the rest of us. https://t.co/u0ugs84LLb
2 days ago The CEOs of @BankofAmerica @Citibank @GoldmanSachs @MorganStanley @StateStreet @BNYMellon testified to Congress tha… https://t.co/ymz7w9JtdC
3 days ago That's it! No more families going without so bank executives like Jamie Dimon who don't even know the price of milk… https://t.co/o3z3mIHYAZ