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WHAT IS FINANCIALIZATION?
noun [fi·nan·cial·i·za·tion]
- 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.
8 hours ago
RT @TarynJay6: @existentialcoms @GoodPoliticGuy Funny how nobody screamed "but Big Macs will cost more!!!" when the CEO gave himself a $6.2…
8 hours ago
RT @propublica: Congress asked the IRS to report on why it audits the poor more than the affluent. Its response is that it doesn’t have eno…
20 hours ago
RT @danielmarans: I just chatted with a senior aide to a progressive House member who thinks it's a combination of leadership wanting to pr…
20 hours ago
RT @AbdulElSayed: Removing @RepKatiePorter--a former financial law prof--from the House Financial Services Committee is like pulling your g…
20 hours ago
RT @helaineolen: My latest: Katie Porter is off the Financial Services Committee. We’re all worse off for it. "If you're an American seekin…