* From: Jim Devine CB: Isn't interest taking part of the profit system ?
it's possible to have zero interest under capitalism (a.k.a. the profit system), as with Islamic banking. Instead of making loans, I am told, Islamic banks take over part of the equity of the "borrowers." Also, as Michael Perelman notes, banks can sometimes make more money on fees (for running trust accounts, checking accounts, etc.) than from interest. ^^^^^^ CB: I'm thinking that on Wallstreet there are bonding companies. Are they among the richest finance corporations ? They make money on interest , I believe. What are investment "banks" ? Aren't they different from the banks that have checking accounts for the masses ? How do they make their money ? What about hedgefunds ? Are these finance corps dominating the manufacturing corps more now, or not ? Some people seem to be saying that nowadays - Wallstreet financial corps dominate the big industrial corps, somehow. But maybe that's not true. If it is true , how do we and the working class struggle against the major financial corps.
