Dillon Read & Co. Inc. & The Aristocracy of Stock Profits

This extensive document by Catherine Austin Fitts examines the interconnectedness of Wall Street finance, government policy, and organized crime, particularly focusing on her experiences at Dillon Read & Co. and later with her own firm, Hamilton Securities Group. Fitts contrasts two competing visions for America: one where an elite profits through methods like drug trafficking, money laundering, and privatization, specifically of prisons, often at the expense of communities; and another focused on productive investment, community rebuilding, and transparency. The text details how her efforts to bring financial transparency to government programs, particularly at HUD, led to her firm being targeted and illustrates the "revolving door" between government and private industry, which facilitated profitable but destructive schemes like those involving private prisons and mortgage fraud. Fitts argues that these systemic issues amount to a form of economic warfare and even "genocide" against the American middle class and poor.