15.05.2023, Moscow.
The US financial oligopoly received the lion’s share of the proceeds from the coronavirus pandemic, analyst Lev Korovin wrote in his article “A Journey with the Parties in Search of American Fascism. Part XIX” published on May 13 in The Essence of Time newspaper.
As a result of the global financial crisis in 2008, the biggest trio of investment funds – BlackRock, Vanguard and StateStreet – emerged, which together are the largest shareholder of the vast majority of major companies on Wall Street, Korovin writes. After the crisis, these investment funds collected the assets of bankrupt hedge funds.
The crisis led to the formation of the “Big Four” banks in the banking sector. JPMorgan Chase, Citigroup, Bank of America and Wells Fargo concentrated 45% of all US bank deposits in their accounts.
“That is, the financial crisis of 2008 made the US financial sector an oligopoly,” the author concludes.
“The financial oligopoly received the main prize from the coronavirus hysteria of 2020-2021. And Western financial aid to Kiev, ostensibly for the reconstruction of Ukraine, is also flowing under BlackRock’s supervision,” the article says.
Source: Rossa Primavera News Agency
