Other People's Money, and How the Bankers Use It

The author analyzes the concentration of financial power and the influence of bankers over corporations, tracing how pooled capital and interlocking directorships enable control of industry and public resources. Through documentary examination and case studies he documents conflicts of interest, wasteful practices, and mechanisms by which investors' funds are diverted to benefit managers and financiers. He combines statistical and legal reasoning to explain causes and consequences, and proposes remedies including greater transparency, limitations on interlocking ownership, judicial and regulatory oversight, and protections for small investors to restore accountability and align financial institutions with the public interest.