Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Because those banks lend to banks, who lend to other institutions, which are owned by institutions or directly by wealthy people. Aside from pension funds and such, the vast majority of financial markets stand to benefit wealthy individuals almost exclusively. It wasn't always this way. Citizen stock ownership in the US was quite significant in the 50s. It's been on a downward trend ever since.


Consider applying for YC's Winter 2026 batch! Applications are open till Nov 10

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: