Endowments are supposed to help institutions weather periods of financial difficulty. Instead, they’ve become a source of it.
financial industry
Posted inFirst 100
First 100: The Obscure Issues Biden Must Address
There’s more in heaven and Earth than pandemic response.
Posted inMoney, Politics, and Power
Elon Musk Pumped Dogecoin Into a 50 Percent Gain. Who Cashed In?
If a single tweet can wildly move prices, maybe there’s a problem with our financial markets.
Posted inMoney, Politics, and Power
The Wall Street Gambling Is Coming From Inside the House
This era of speculation cannot be blamed on GameStop buyers on Reddit. Look, for example, at SPACs.
Posted inPolitics
Even After the Cabinet Selections, Personnel Is Policy
Look to the sub-cabinet level for obscure but important jobs that will determine the direction of the Biden presidency.
Posted inLaw and Justice
How the Supreme Court Protects Robinhood
Decades of bad Court rulings have enabled corporations to use forced arbitration clauses to protect themselves. But Congress could easily fix this.
Posted inVideos
⏩ David Dayen Breaks Down the GameStop Story on Useful Idiots
Prospect executive editor David Dayen appeared on Rolling Stone’s Useful Idiots podcast to discuss Biden’s early days of presidency and break down the GameStop/Wall Street situation from this past week. Watch the video below:
Posted inPolitics
Why Katie Porter Isn’t on the House Financial Services Committee
Committee Chair Maxine Waters appears to have a problem with fierce questioning and progressive financial reform.
Posted inMoney, Politics, and Power
What We’ve Learned From the Robinhood Affair
Let’s put parasitic speculators out of business. How about a lead role for Joe Biden’s most progressive former top aide, Ted Kaufman?
Posted inMoney, Politics, and Power
The GameStop Craziness Pulls Back the Curtain on the Stock Market
Day traders with apps have occupied Wall Street—and shown it to be a sham.
