The online, often predatory lending companies benefit from lower-income Americans needing emergency cash. That aligns with Summers’s concern trolling about an ‘overheated’ economy.
financial industry
Posted inEconomic Policy
Reappointing Powell to Chair the Fed Is a Bad Idea
He’s terrible on everything other than monetary policy, and Biden gains nothing with Republicans by renaming him.
Posted inEconomic Policy
Financial Reformers to Biden: Start Nominating Regulators!
Several positions are vacant, as Wall Street reform appears to fall off the priority list.
Posted inMoney, Politics, and Power
The Smallest Regulations Can Make a Big Difference
An obscure Consumer Financial Protection Bureau guidance will protect people from financial scams. It shows how much executive branch action matters.
Posted inEconomic Policy
Biden Needs to Be Wary of Crypto Grifters
The administration has a host of options to create a public option for digital currencies and use regulatory tools to prevent fraud and abuse.
Posted inMoney, Politics, and Power
How the GameStop Hustle Worked
How hedge funds and brokers have manipulated the market.
Posted inHousing
The Problem With the ‘BlackRock Buying Houses’ Meme
Here’s the reality of institutional buyers and the single-family rental market.
Posted inEconomic Policy
Should Biden Reappoint Jerome Powell?
A Prospect debate about the future of the Federal Reserve
Posted inEconomic Policy
Jerome Powell Went Easy on Wall Street
That gets in the way of good monetary policy, and makes recessions and inequality worse.