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Tuesday, April 20, 2010

US How Bubble Barons Protected Their Influence While The Economy Tanked http://www.vivelecanada.ca/article/235930792-us-how-bubble-barons-protected-their-influence-while-the-economy-tanked

The 300 citizen journalists who joined the investigation of the bubble barons - elite billionaires like Stanley Druckenmiller [heavily invested in the disastrous West Virginia coal mine recently in the news] who saw astronomic gains in wealth over the housing bubble years - made over 1,200 of these kinds of connections, linking the wealthy billionaires to politicians, foundations, families and businesses, and collectively mapping a network that controls hundreds of billions of dollars in capital.

In doing so, they parted the corporate veils that distance the barons from the business activities that enrich them, discovered the odd philanthropic habits they share, and developed an illuminating picture of the strange world they inhabit. What follows is a selection of findings that came out of these efforts. In some sense, the project will not end as long as the bubble barons rule our economy; there will always be more to dig up, and they deserve sustained scrutiny. But we´re off to a good start.

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