Money for Nothing

Why the modern financial sector is better at extracting rents than funding the future.

Illustration by Yann Bastard

At the time, it seemed like the fallout from the 2008 crisis would force a reckoning. The Great Recession had laid bare just how deeply Wall Street shaped — and distorted — the American economy. A housing bubble fueled by reckless lending and new financial products had burst, triggering mass foreclosures, a global credit freeze, and the worst economic […]

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