Tuesday, January 26, 2010

The Banks Drove Consolidation into Destruction

The bankers are the enablers.
In industry after industry in recent years you see a few chosen people being allocated the capital to gobble up everyone else.
Frank Stronach gobbled up race tracks across the country. Now in bankruptcy.
A very few media companies were funded to buy everyone else, to consolidate control. Even Gatehouse Media was funded to buy out hundreds and hundreds of smaller community newspapers. An independent, Media News led by the Denver Post's Dean Singleton, was just taken out by the banking consortium led by Bank of America.

Investment bankers began consolidating the past few years, with some then liquidated and the remnants reallocated among the few.
Smaller grocoery store chains have been absorbed by larger ones like Kroger.
This consolidation trend is driven by Wall Street and Fleet Street.
(Of course, Fleet Bank was itself consolidated into....was it Chase?)

In Denver in the space of about three years in the mid 90s seven independent hospitals were absorbed into one surviving public entity.funded by Wall Street.
Pick your industry....name your consolidations already.
Anyone can see the Orwellian, collective, totalitarian path being taken.
A healthy nation would be comprised of countless small human scale enterprises.
The banks won't allow that. They constantly allocate capital to just a few.

Look at how retailing was consolidated in the last century. And then how the few well funded retailers allocated advertising to the newspapers that were chosen to survive.
And the few surviving newspapers could shape public thinking...and acceptance.
Barriers were dropped on the limits on TV station ownership
Much easier to control three or four owners - and the the thinking they allow - than three or four hundred. Of course hundreds of independent TV owners exist don't they?....in the smaller markets.
Even Gatehouse did not buy every puny newspaper in America.
But would it if it could have? The money would have been there.
Until the rug was pulled.
This is not conspiracy. It is "Darwinian" economics. Big, protected fiat-money banks, driving out the weak, the unfunded, the unconnected