The implicit fear is real enough:
As I noted the other day, for when the centrally-enforced rentier skims and scams collapse, those who own and control the rentier skims, scams and rackets will lose the source of their wealth and power.
In a top-down, centralized hierarchy of political power (i.e. the central state), the pharmaceutical company only needs to lobby a few authorities in the central state to
Lobbying/bribing a relative handful of federal officials and elected representatives is remarkably inexpensive: a financier or corporation only needs to focus on these few key players, and smoothing the PR pathway via a highly concentrated corporate media.
A mere $5 million spent in the right places guarantees $100 million in future profits-- profits earned not from open competition in a transparent market, but profits plundered as : the product didn't get any better or effective when the price leaped from $3 to $600, and competition was squelched by and
The lobbying/bribing effort will be orders of magnitude more costly and complex, and the national corporate media is less effective at the local level, where community groups and local media have some influence.
If the financial system were composed of 1,200 local banks, each of which had to comply with local and state regulations instead of five behemoth banks that had the capital and klout to buy Washington D.C.'s approval of their leverage and shady dealings, some hundreds of the smaller banks might have failed--but the system would have survived.
Those banks that played fast and loose with derivatives and subprime mortgages would have reaped what they had sown and been liquidated. Investors in those banks' bonds and stocks would have been wiped out. Losses would have been taken by those who had taken the risks, bad debts would have been written off and lessons would have been learned.
A system that prohibited the concentration of centralized capital and power would never have been in a position to be blackmailed by the Too Big To Fail predatory parasites.
of governance, capital and enterprise.
The intrinsic limits of a corrupt, inefficient and rigged-to-serve-the-few-at -the-expense- of-the-many centralized pyramid of power and wealth is why centralization is the problem rather than the solution:
When something no longer works, it goes away: it costs more to maintain than its output is worth.
As its defenders tax the system to protect what no longer works (except for them, of course), the slide to oblivion accelerates as the system breaks down under the collective weight of all the skims, scams and rackets benefiting the few at the expense of the many.