New technology and old tactics have made buying a car a death march of deception. Jase Patrick, who spent 15 years in the business, reveals the dealer secrets.
financial industry
Posted inEconomic Policy
The Fed Covers for Big Banks Amid Growing Stress
The central bank weakening the penalties for failing a living will plan is bad in theory. In practice, with commercial real estate defaults rising, it’s even worse.
Posted inMoney, Politics, and Power
Built by AI Hype
As it dominates the market for AI chips, Nvidia was briefly the most valuable company on Earth. How it got there is the subject of a Justice Department investigation.
Posted inEconomic Policy
Treasury Foresaw the Synapse Collapse Two Years Ago
An agency report detailed how fintech ‘neobanks’ could fall into the regulatory cracks. Nobody managed to patch them up, and now depositors can’t retrieve their own money.
Posted inHousing
How an ‘Algorithm’ Turned Apartment Pools Green
RealPage, the rent-fixing software company currently under FBI investigation, also has apps for bogus fees, monetizing vacant apartments and inflating toxic property bubbles.
Posted inTAP
Democracy, Deshmocracy: Mega-Financiers Are Flocking to Trump
Today on TAP: Leading Wall Street and Silicon Valley pooh-bahs believe the tax cuts he’ll give them are a bigger deal than preserving democratic norms.
Posted inHousing
Hell Is an Underwater Landlord
Millions of tenants are trapped in a rotten cycle of overflowing trash, daily water outages, and a healthy rat population.
Posted inEconomic Policy
The Raiding of Red Lobster
The bankrupt casual restaurant chain didn’t fail because of Endless Shrimp. Its problems date back to monopolist seafood conglomerates and a private equity play.
Posted inPolitics
Pelosi May Back Industry-Friendly House Crypto Bill
The industry has become a major spender in political campaigns, and the most prodigious fundraiser among Democrats is taking notice.
Posted inTAP
Crypto: Back From the Dead
Today on TAP: It’s hard to think of a more useless financial invention. Crypto began as a fringe fad, disdained by the big investment banks. Now, Wall Street is cashing in.
