I suppose I could respond “yes and no” on the question of financialization and increasing detachment from production. The massive amounts of money diverted to financial speculators — Wall Street, the City and elsewhere — are a sharing of surplus value, not necessarily willingly done. But it is certainly true that activity on financial markets greatly exceed any rational bounds — I once tried to quantify the composite size of stock, bond and forex markets and concluded that 11 days of trading on those markets equals in value the size of the entire world gross domestic product.

Industrialists and financiers ultimately have a symbiotic relationship. Financiers need profitable enterprises to produce the profits that are skimmed off and speculated on, and industrialists benefit from the pressure that financiers bring to bear, forcing up stock prices that they profit from. There is a considerable overlap between the two as well, financiers often buy industrial companies and other makers of tangible products (even if to siphon the money out of them and leave them an emptied husk) and industrial companies often develop their own finance arms. GE Capital was once one of the most profitable parts of General Electric, for example.

There is so much financial speculation because the profits generated and the wealth flowing to those who reap the profits have far more money than they can spend or invest. So this excess is diverted into speculations. At time, speculation is more profitable than production, so that exacerbates the tendency of capital to chase higher returns through speculation. So you are completely correct that financialization has gone beyond any rationality at the same time that accumulated financial wealth is not necessarily detached from productive enterprises.