It’s not just OpenAI that looks overhyped. There’s a whole mountain of sketchy financial engineering underneath.
financial industry
Posted inEconomic Policy
The Plutonomy Is Still Going Strong
For the last 20 years, analysts have known that this is an economy by and for the rich.
Posted inEconomic Policy
Crypto Bank Machine Operators Swindle Seniors
Once described as the ‘AR-15s of the financial services industry,’ crypto ATMs remain a hotbed for scams targeting vulnerable communities. But third-party fraudsters aren’t the only ones laughing all the way to the bank.
Posted inEconomic Policy
What If There’s No AGI?
The technological struggles are in some ways beside the point. The financial bet on artificial general intelligence is so big that failure could cause a depression.
Posted inEconomic Policy
Injecting Crypto Into the Mortgage Market
Trump’s top housing regulator wants to allow crypto to be used as collateral for mortgages.
Posted inEconomic Policy
Private Equity Ripped the Heart Out of Skateboarding
Multiple buyouts and bankruptcies have ruined iconic brands and hollowed out skateboarding culture. It’s our financialized economy in miniature.
Posted inMoney, Politics, and Power
Plenty of Room for Lawmakers to Profit Under Proposed Stock Ban
A better way to stop politicians’ insider trading is by allowing them to invest only in plain-vanilla mutual funds, Wall Street insiders told the Prospect.
Posted inMoney, Politics, and Power
Silicon Valley Godzilla vs. Wall Street Mothra
The only two sectors thriving in Trump’s economy are increasingly sparring with each other.
Posted inEconomic Policy
Deregulation Swings the Pendulum Toward Financial Crash
The Federal Trade Commission’s decline is a symptom of a public policy designed primarily to protect asset prices.
Posted inMoney, Politics, and Power
AFL-CIO Report: Is DOGE’s Antonio Gracias Mishandling Retiree Investments?
Elon Musk’s replacement is busy with mass deportation, while simultaneously running an investment firm managing public union pension funds.