Rereading this and it's very well reported and presented, worth your time.
Shows how vulture funds were ready to take over the role of allocating capital in our economy, before the Fed ensured functioning financial markets would do so instead. 1/3 wsj.com/articles/how-f…
Shows how vulture funds were ready to take over the role of allocating capital in our economy, before the Fed ensured functioning financial markets would do so instead. 1/3 wsj.com/articles/how-f…
It's reified as 'the market,' but actual financial institutions govern who survives the crisis. Vulture hedge funds were excited to get to play this governing role, squeezing our productive enterprises and state and local governments during this depression. Now they won't. 2/3
I'm not a fan of financial markets as they existed in January: I've spent past decade arguing shareholders hold too much power and suppress investment at expense of growth and wages. But I prefer that vs handing the economy over to vulture funds, which would accelerate this. 3/3
