nel e nel wrote:Kehama wrote:You also had Clinton deregulating the banks in the 90's that gave rise to a lot of the sketchy financial products which led to huge returns for a lot of investors. That combined with the economic boom had the wealthy increasing their gains by a large amount.
And also wealth consolidation in the form of mergers.
It seems unlikely that that would have much of an effect on personal wealth distributions, just corporate wealth distributions. Typically a merger doesn't end with one CEO destitute and the other CEO with twice the money, it ends with the higher ups in either company getting money.
If wealthy CEOs getting more money from corporate mergers isn't a form of wealth consolidation, I guess I don't know what is.
And often times jobs are cut after mergers, so yeah, personal wealth distributions do get affected.
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