The former member of Congress and DCCC chair is now the head of the Coalition for Prediction Markets, an organization funded by the exact crypto firms he promised not to work for.
deregulation
Posted inEconomic Policy
Where Big Tech and Trump Are Demanding Tax Cuts and Deregulation
A new analysis shared with the Prospect shows that Big Tech is seeking changes to national law in 64 countries. The Trump regime is helping them.
Posted inMoney, Politics, and Power
Monetizing Regime Change
It is trivially easy for administration officials to use prediction markets to bet on the policies they authorize. We may have just seen it in Venezuela.
Posted inMoney, Politics, and Power
Another Biden Financial Regulator Spins Through the Revolving Door
Michael Hsu, former OCC head, has joined a VC firm backing crypto and fintech companies.
Posted inEconomic Policy
Pick Your Financial Crash
What are the risks of a financial crash in the coming year? Let us count the ways.
Posted inEconomic Policy
Credit Unions Go Large and Go Rogue
Intended to bolster local access to lending, large credit unions today are swallowing up community banks. A Trump purge has reduced their oversight to one regulator.
Posted inMoney, Politics, and Power
Big Tech Poised to Win Immunity Shield From State AI Regulation
The Trump administration is readying an executive order preempting constraints on AI. It could become a much more wide-ranging deregulatory tool.
Posted inEconomic Policy
Making Banking Supervision Suck Again
Bank supervision consists of two main prongs: risk management and compliance. On the compliance side, consumer protection laws are being enforced less than at any time since at least the Great Recession.
Posted inMoney, Politics, and Power
Crypto Bros Want to Create Micro Landlords
You might expect crypto enthusiasts to look down their noses at landlording as an antiquated way to earn a fortune, not worth their time when they are busy democratizing money. But in finance, everything old is new again. “Fractional ownership” of “tokenized real estate,” the latest crypto scheme, works like this: a company sells investors […]
Posted inBooks, Arts and Culture
Brown Stage Capitalism
Doctorow coined the term “enshittification” in 2022, though it was hardly a new phenomenon even then. In granting apps the right to wield the absurdities of intellectual property law to legally bully their users, the government emboldened tech founders to view their companies as exempt from laws and regulations.
