Monday, October 24, 2011

Them what has . . .

THE CORPORATE MATRIX, as reported by BOINGBOING's Cory Doctorow, consolidates wealth and wealth control to a disturbing degree, in an article, "Densely-linked cluster of 147 companies control 40% of world's total wealth":

When the team further untangled the web of ownership, it found much of it tracked back to a "super-entity" of 147 even more tightly knit companies - all of their ownership was held by other members of the super-entity - that controlled 40 per cent of the total wealth in the network. "In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network," says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.

A CORE OF 1318 companies with interlocking ownerships. Each of the 1318 had ties to two or more other companies, and on average they were connected to 20. H/T — SCANNER.

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