[Marxism] If you want to identify the ruling class, you have to decide what is a social class.

[S. Artesian]

I belive the term "bond traders" was used by Clinton to identify, not the 
actual traders on the floor of the exchanges that do the trading, but as a 
"colloquialism" for  the heads of the investment banks, the (then) 19  banks 
designated Primary Dealers of US Treasury instruments.


----- Original Message ----- 
From: "martin" <mschiller at pobox.com>
To: <sartesian at earthlink.net>
Sent: Saturday, November 01, 2008 1:17 PM
Subject: Re: [Marxism] If you want to identify the ruling class, you have to 
decide what is a social class.


>
> On Oct 31, 2008, at 10:57 PM, S. Artesian wrote:
>
>> Clinton, as it was reported, stopped and stared at
>> Rubin, and said, "You mean to tell me that the economic policy of the
>> President depends on the approval of a handful of bond traders on Wall
>> Street?"  Rubin told him that indeed it did.
>
> But the bond traders were simply following policy decisions of their
> respective corporations. Humans do not constitute a 'ruling class'.
> They benefit from the rules that are generated by corporate policy,
> and the corporate policy is generated by a networking feature of
> corporate governance ie. overlap within boards of directors. It's a
> self-perpetuating, self-correcting system, using a meat network to
> communicate and correct.
>
> martin
>
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