A new resolution demands that Congress withhold support for AI companies that bankrupt themselves and instead respond to any future recession by supporting ordinary people.
financial industry
Posted inMoney, Politics, and Power
Will Wall Street Lose on Election Day?
Several pro-bank Republicans on the House Financial Services Committee are in trouble. Crypto’s cash may not break through, either.
Posted inEconomic Policy
Here’s a Way to Stop Silicon Valley Megalomania
‘Dual class’ shares are a fraud on the public market.
Posted inBooks
Leon Black Is Not Very Interesting
Unfortunately, author William Cohan thinks the ousted Apollo co-founder is fascinating enough to quote him at length, while neglecting the impact of private equity predators.
Posted inTechnology
Will an AI Slowdown Tank the Economy?
Anthropic and OpenAI want to hit the brakes on AI investment—the only thing propping up the broader economy.
Posted inEconomic Policy
How Should the Federal Reserve Deal With the AI Bubble?
The turmoil in the AI industry is further complicating the Fed’s upcoming decision on interest rates.
Posted inEconomic Policy
The Lawless Fed
The central bank specializes in not following laws meant to restrain Wall Street.
Posted inTechnology
The House Always Wins, Even on House-less Kalshi
Kalshi claims its peer-to-peer market structure makes it more fair than traditional sportsbooks. But users often face an opponent even more formidable than a traditional house: Wall Street.
Posted inTAP
How the Cost of Money Spikes Inflation
Government borrowing costs are going through the roof—and so are yours and mine.
Posted inMoney, Politics, and Power
Crypto Democrats Are Ghosting the Industry
The Senate punted a vote on the crypto industry’s top priority to September, which doesn’t bode well for the industry’s legislative agenda or their key alliance with certain moderate Democrats.