2min snip

Institutionalized cover image

The Elites with Nils Gilman

Institutionalized

NOTE

Vicious Cycle of Corruption- NG- "Was a policy choice."

The carried interest loophole, which effectively created the private industry crited lots and lots of millionaires who basically make money by shifting around paper or shifting around digits on a computer. Thats, you know, created the cult of finance. Andounow, indirectly, it was one of the things that fed into...the pursuit of financial innovation that led to the fina crisis in two thousand seven and eight. So i think those were other things that, like, as a matter of policy, created a set of incentives for people to enrich themselves all the time.

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