The Bankers’ Club and the Power of Finance

Authored by: Gerald Epstein

The Routledge International Handbook of Financialization

Print publication date:  February  2020
Online publication date:  February  2020

Print ISBN: 9781138308213
eBook ISBN: 9781315142876
Adobe ISBN:

10.4324/9781315142876-39

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Abstract

The world’s bankers brought the global financial and economic system to its knees in 2007–2008. Yet reams of new financial regulations passed by governments on several continents and enormous reform efforts by publicly oriented organizations, some politicians and a number of public servants have, so far, barely made a dent in the problem of finance’s disproportionate power. In fact, regulators in the US and elsewhere are back-pedaling on financial regulations put in place after the crisis, despite a lack of evidence that financial institutions are any safer.

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