Politicology The Age of Financial Repression—Part 1
Jan 15, 2026
Jorge Jraissati, an accomplished economist and president of the Economic Inclusion Group, joins Ron Steslow to discuss the alarming reality of debanking. They delve into how post-9/11 regulations have transformed banks into state enforcement tools, risking civil liberties for many. Jraissati highlights the stigma faced by the unbanked and examines how vague rules can lead to the weaponization of financial systems. The conversation sheds light on the implications of compliance regimes on privacy and the fundamental rights of individuals.
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Banking Is Core To Democracy
- Financial access is foundational to democratic participation and free speech.
- When banks can be quietly revoked, democracy's basic liberties become hollow.
Compliance Grew Faster Than Results
- AML/CFT regimes expanded after 9/11 but created big unintended costs and complexity.
- The rules are expensive, inefficient, and produce financial exclusion rather than solving laundering effectively.
The Financial Dragnet Problem
- Banks now collect vast personal financial data and file millions of reports yearly.
- That dragnet floods law enforcement with low-value data and catches only a tiny fraction of laundering.