Blackrock & Co: Wie mächtig sind Schattenbanken? - WOHLSTAND FÜR ALLE Ep. 55

In the wake of the last major #financialcrisis, banks were subject to somewhat stricter regulation: It is no longer as easy to sell highly volatile securities, and banks must also hold more capital than before. Governments want to prevent states from having to bail out bankrupt banks again because they are systemically important. Shadow banks, on the other hand, are not systemically important; their rise only really gained momentum with the last crisis because they are subject to hardly any regulation and lure investors with high returns in interest-free times. Asset managers like Blackrock, #StateStreet, and #Vanguard manage trillions of dollars in trust and have thus gained tremendous power over the financial markets, which is a concern not only for critics of capitalism. When capital is so highly concentrated, competition becomes increasingly less possible, price cartels emerge so quickly, and the political power of Larry Fink and his colleagues also grows and grows. How does the business model of such shadow banks work, and why are they a threat to democracy? More on this from Ole Nymoen and Wolfgang M. Schmitt in a new episode of "Prosperity for All." Literature: Werner Rügemer: The Capitalists of the 21st Century. A Comprehensible Overview of the Rise of the New Financial Players. Papyrossa. Jens Berger: Who Protects the World from Corporations?: The Secret Rulers and Their Assistants. Westend. Hans-Jürgen Jakobs: Who Owns the World? The Power Relations in Global Capitalism. Albrecht Knaus Verlag. You can support us - thank you very much! Paypal: https://www.paypal.me/oleundwolfgang Wolfgang M. Schmitt, Ole Nymoen Subject: Prosperity for All IBAN: DE67 5745 0120 0130 7996 12 BIC: MALADE51NWD You can also listen to us as a podcast: Podigee: https://wohlstandfueralle.podigee.io/ Spotify: https://open.spotify.com/show/12x5cqw... iTunes: https://podcasts.apple.com/de/podcast... Twitter: Ole: twitter.com/nymoen_ole Wolfgang: twitter.com/SchmittJunior