NEWS: Scientific analysis reveals financial 'super-entity' that controls global economy

[Generic Other]

A recent study of the global economy by three complex systems theorists at the Swiss Federal Institute of Technology in Zurich "combines the mathematics long used to model natural systems with comprehensive corporate data to map ownership among the world's transnational corporations," New Scientist reported.<1> -- It confirms that "a few bankers control a large chunk of the global economy," Andy Coghlan and Debora MacKenzie said. -- The study is based on "Orbis 2007, a database listing 37 million companies and investors worldwide, they pulled out all 43,060 TNCs and the share ownerships linking them" -- It "revealed a core of 1318 companies with interlocking ownerships" with "ties to two or more other companies, and on average they were connected to 20. . . . he 1318 appeared to collectively own through their shares the majority of the world's large blue chip and manufacturing firms -- the 'real' economy -- representing a further 60 per cent of global revenues." -- In addition, it revealed "a 'super-entity' of 147 even more tightly knit companies -- all of their ownership was held by other members of the super-entity -- that controlled 40 per cent of the total wealth in the network. 'In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network,' says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group." --

http://www.ufppc.org/us-a-world-news-mainmenu-35/10633/

edited to add the names of the 1%ers.

THE TOP 50 OF THE 147 SUPERCONNECTED COMPANIES

1. Barclays plc
2. Capital Group Companies Inc
3. FMR Corporation
4. AXA
5. State Street Corporation
6. JP Morgan Chase & Co
7. Legal & General Group plc
8. Vanguard Group Inc
9. UBS AG
10. Merrill Lynch & Co Inc
11. Wellington Management Co LLP
12. Deutsche Bank AG
13. Franklin Resources Inc
14. Credit Suisse Group
15. Walton Enterprises LLC
16. Bank of New York Mellon Corp
17. Natixis
18. Goldman Sachs Group Inc
19. T Rowe Price Group Inc
20. Legg Mason Inc
21. Morgan Stanley
22. Mitsubishi UFJ Financial Group Inc
23. Northern Trust Corporation
24. Société Générale
25. Bank of America Corporation
26. Lloyds TSB Group plc
27. Invesco plc
28. Allianz SE 29. TIAA
30. Old Mutual Public Limited Company
31. Aviva plc
32. Schroders plc
33. Dodge & Cox
34. Lehman Brothers Holdings Inc*
35. Sun Life Financial Inc
36. Standard Life plc
37. CNCE
38. Nomura Holdings Inc
39. The Depository Trust Company
40. Massachusetts Mutual Life Insurance
41. ING Groep NV
42. Brandes Investment Partners LP
43. Unicredito Italiano SPA
44. Deposit Insurance Corporation of Japan
45. Vereniging Aegon
46. BNP Paribas
47. Affiliated Managers Group Inc
48. Resona Holdings Inc
49. Capital Group International Inc
50. China Petrochemical Group Company