Inbreeding would explain the extensive mutual cross holdings in the elite group of old banking/insurance companies that in turn, control the world.
These companies are incestuous and own parts of each other -- probably through family connections. They also control 40% of everything. They are like a black hole, eating up the financial universe.
The Network of Global Corporate Control (well worth reading)
We present the first investigation of the architecture of the international ownership network, along with the computation of the control held by each global player. We find that transnational corporations form a giant bow-tie structure and that a large portion of control flows to a small tightly-knit core of financial institutions. This core can be seen as an economic “super-entity” that raises new important issues both for researchers and policy makers.
Gross and creepy
Inbreeding would explain the extensive mutual cross holdings in the elite group of old banking/insurance companies that in turn, control the world.
These companies are incestuous and own parts of each other -- probably through family connections. They also control 40% of everything. They are like a black hole, eating up the financial universe.
https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0025995
Click on appendix A1, see page 17.
BARCLAYS PLC GB
CAPITAL GROUP COMPANIES INC, THE US
FMR CORP US
AXA
STATE STREET CORPORATION US
JPMORGAN CHASE & CO. US
LEGAL & GENERAL GROUP PLC GB
VANGUARD GROUP, INC., THE US
UBS AG CH
MERRILL LYNCH & CO., INC. US
The Network of Global Corporate Control (well worth reading)
We present the first investigation of the architecture of the international ownership network, along with the computation of the control held by each global player. We find that transnational corporations form a giant bow-tie structure and that a large portion of control flows to a small tightly-knit core of financial institutions. This core can be seen as an economic “super-entity” that raises new important issues both for researchers and policy makers.
https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0025995