The financial sector receives more of the average paycheck than any other sector of the economy. Its share of the economy totals $2 trillion dollars. In 1985, the financial sector earned less than 16% of domestic corporate profits. Today, it’s over 40%. In the 1960s, finance and insurance accounted for only 4%…
Tag: aig
Corporate Welfare
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What Would Have Happened If We Let AIG Fail?
The average household in America had to shell out around $2000 to make sure that AIG’s counter-parties wouldn’t have to accept the risks they took.