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A marxist view of the 2008 banking crisis

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CSW COLLEGE

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documents in English
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3 pages
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  1. The representative democratic government, a tool of the bourgeoisie
  2. The idea of a monopoly
  3. The nationalization of the entire banking industry
  4. "Capitalistic competition is destructive to the entire capitalist economy"
  5. The consideration of the culture of power

In 2008, there was a major issue facing the American banking sector and the global financial world right now. A catastrophic loss of confidence stemming from a failure of the securities market has caused a number of banks to suddenly find themselves in danger of collapsing. In a sudden need of capital to keep themselves solvent and to return to effective lending operations again, many investment and commercial banks in the United States have asked the government for help. Specifically, they have asked the government to provide financial capital to refill their drained resources.

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