The Rise of Private Equity in the US Economy

We have seen the financialization of productive corporations. Once you create such a vast and powerful financial sector, they basically throw in the towel. Even Macy's used to make more money by getting credit cards for Macy's customers than they made actually on the store. And that's why we've been de-industrializing and painted the US economy into the corner - it really can't re-industrialize without replacing the banking system which is showing that it doesn't work.