Re: question on finance capital

[Patrick Bond <pbond@xxxxxxxxxx>]

Hi Michael; isn't 'finance capital' a problematic phrase, given that
Hilferding meant that various fractions of capital would be bought up by the
banks -- and this is the opposite?

Doug Henwood told me once that the Ford strategy -- which in the 1980s
entailed not only a major emphasis on financing but also the purchase of
hundreds of failed S&Ls within its Nationwide (?) S&L holding company
(making it, at that point, I recall, the world's largest thrift
institution) -- had changed by the mid-1990s. My guess is it won't help you
because it's probably not online, but I did an article on Ford's S&L gambit
for Multinational Monitor in July 1989.

----- Original Message -----
From: "michael" <michael@xxxxxxxxxxxxxxxxx>
To: <PEN-L@xxxxxxxxxxxxxxxx>
Sent: Monday, August 04, 2003 4:11 AM
Subject: question on finance capital


Business Week describes GM becoming almost entirely dependent on its
finance unit.  I recall seeing something similar about Ford.  Does
anyone recall a source?