Finance colonizes global South elites and American urban poor via intermediaries

Evidence

These have included the “economic hit men” who seduced, bribed and cajoled political elites in the first and third worlds to enter into a devil’s bargain with financial markets (Perkins 2004), and the legions of small-time fly-by-night predatory mortgage salesmen who preyed largely on the racialized urban poor of America (and, to a lesser extent, elsewhere), hawking sub-prime mortgages (McNally 2011, 102–108; Taibbi 2010, 78–123). — Max Haiven, Cultures of Financialization, 153

Categorization

• SEED: The ‘economic hit men’ as a narrative device — financiers who seduce politicians into debt peonage — could anchor an essay on how debt functions as a colonizing instrument.
• XREF: Connects to The Reluctant Fundamentalist’s underwriting scene — finance’s human intermediaries seducing clients into deals. — connects to: Global South elites also profit from Federal Reserve rate hikes — Clara E. Mattei, Escape from Capitalism, 340; Predatory sub-prime lending preyed on America’s poor and racialized communities — Max Haiven, Cultures of Financialization, 154; Financialization colonizes culture by fusing economic price with social value — Max Haiven, Cultures of Financialization, 561 (+8 more)

Broader Connections

• Sub-prime lending exploited the American Dream myth to sell mobility to marginalized borrowers #exemplifies (0.85) — Max Haiven, Cultures of Financialization, 528
• Financialization colonizes culture by fusing economic price with social value #expands (0.80) — Max Haiven, Cultures of Financialization, 561
• Financialization colonizes culture through diffuse metaphors, narratives, and techniques #expands (0.80) — Max Haiven, Cultures of Financialization, 35
• Finance is promoted to the poor as a moral rather than merely economic good #expands (0.80) — Max Haiven, Cultures of Financialization, 161
• Finance produces its own imagined communities rather than merely colonizing existing ones #complicates (0.75)
• Finance shapes modern societies’ collective myths and imagined communities, not just economies #complicates (0.75) — Aris Komporozos-Athanasiou, Speculative Communities, 19
• Unequal North-South exchange has drained trillions from the Global South #expands (0.70) — Andrew deWaard, Derivative Media, 61