>>> Doug Henwood <dhenwood at panix.com> 05/03/00 06:57PM >>
Lenin and Hilferding talked about state-sponsored cartels and the suppression of competition. Everywhere on earth, deregulation and the intensification of competition are the rule of the day. Please clarify how this proves Lenin and Hilferding right.
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CB: I'd say that hedge fund that just collapsed is a form of state-sponsored financial cartel. When it failed , the U.S. Fed bailed it out. Not only are hedgefunds hardly regulated, evidently they are subsidized and guaranteed by the state of the United States.
Hedgefunds seem to fit well the type bourgeois organism that Lenin described the abstract principles of in _Imperialism_. Of course , there has been some fludity of its form as well.
CB