Re: Re: Re: 'Neill goes, Bono stays

[Eugene Coyle]

I think it can be said that Bush's money comes out of Wall Street before oil. His grandfather, Prescott Bush was a partner (while in the Senate) at Brown Brothers Harriman, 59 Wall St., a commercial bank AND member of the NYSE. Brown Brothers Harriman was, early in its life, an entreprenurial gang. The Bush money (maternal as well) is Wall St. money.

Doug Henwood wrote:

Chris Burford wrote:

But what sector of capitalism did he represent if it was not finance capital?

Are you using this term in Hilferding's sense, as the unity of industry and finance on the mystical model of the Holy Trinity? I don't think things are so seamlessly joined. O'Neill came out of fairly traditional heavy industry and always expressed hostility towards Wall Street - and they returned the favor. They never trusted his dedication to a strong dollar policy, one issue that divides manufacturers and financiers. Wall Street wants a markets guy at Treasury - we'll see if they get what they want.

Doug