I write a newsletter about the financial markets called
Markets Weekly 🦄. There, I’ve written about
GameStop, over-concentration of
Dogecoin, and
Archegos.
Finally, I wrote a bit about the broader implications of GameStop in
an oped for the NYTimes, where I argued that we can’t beat Wall Street at its own zero-sum game. But we can change the rules.
I believe that truly democratizing the economy means pouring national resources into lifting up Americans and rebuilding public institutions. That looks like canceling federal student debt, which President Biden can through executive action, would grow the economy, relieve the
disproportionate debt burdens carried by Black and brown borrowers. It could also mean examining policy changes like a modest wealth tax, a financial transaction tax, and creating programs like
baby bonds to fight the racial wealth gap. Finally, I believe that regulators need to make sure that nonbanks like asset managers and hedge funds aren’t taking advantage of regulatory blind spots to make themselves too big, or too interconnected to fail.
