MK Yacimovich: It's not capitalism, it's a monarchy of tycoons

CPI up 0.5% in October as housing prices fall

"These people have more power than anyone else, including MKs."

"We're no longer talking about the danger of economic instability, but about a danger to Israeli democracy. Let us be clear: it's no longer capitalism, it's oligarchy, a monarchy of the tycoons," said MK Shelly Yacimovich (Labor) during a session of the Knesset Finance Committee today on the issue of over-concentration in the economy and the families who dominate it.

"These people have more power than anyone else, including MKs," she added.

Published by Globes [online], Israel business news - www.globes-online.com - on June 7, 2010