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Read_884 - The Great Taking [P3]

Bitcoin Audible

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Financialization and Its Consequences

This chapter examines the detrimental outcomes of decades of financialization, focusing on the 2005 changes to the U.S. bankruptcy code that favored secured creditors. It critiques the unequal protections afforded to financial entities, using Orwell's 'Animal Farm' as a metaphor for systemic imbalances. Additionally, the chapter explores the implications of these regulations on market stability, particularly in relation to high-profile bankruptcies and the risks associated with central clearing parties.

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