Podcast appearances and mentions of Bethany McLean

In this episode, renowned journalist and author Bethany McLean joins to discuss 'legal fraud,' whether we're becoming more desensitized to corporate misconduct, and the one question she'd ask if she were on Tesla's board.

Danny is joined by Bethany McLean, famed for her work on exposing Enron's accounting malpractices and chronicling its fall in her book, 'The Smartest Guys in the Room.' McLean discusses various topics including the current state of private equity, U.S. healthcare, Fannie Mae and Freddie Mac, tariffs, and Warren Buffett's enduring legacy. Delving into contemporary issues, she also touches on the role of law firms in response to Trump's demands, the mission conflict within Open AI, and the philosophical underpinnings of the 'dark enlightenment' movement. The conversation highlights the intricate dynamics between capitalism, governance, and societal impacts. Timecodes 0:00 - Intro & Warren Buffet 4:25 - Supply Chain 9:45 - Rule of Law 13:45 - State of Journalism 15:45 - OpenAI 18:30 - Dark Enlightenment 21:45 - Fannie & Freddie 25:45 - Private Equity --ABOUT THE SHOWFor decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners. Follow Danny on X: @dmoses34 The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content.Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'On The Tape' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

The rule of law is essential to the flourishing of liberal democracy and capitalism. Yet, it is now under pressure in the United States, and corporate law firms are in the eye of the storm. Over the last few weeks, President Donald Trump has issued executive orders against several prominent law firms that represented his political adversaries and promoted diversity, equity, and inclusion (DEI) initiatives. Some of these law firms have caved into the administration's demands to end such practices and provide pro bono services to the government, whereas others are fighting back.To discuss the financial reasons why some firms have capitulated while others have held out, and what the consequences are for the survival of the rule of law, Bethany and Luigi speak to John Morley, Augustus E. Lines Professor of Law at Yale University and an expert on the economics of law. Are Trump's orders unconstitutional, and if so, why have so many law firms reached a deal with him? How have changes to law firms' business models left them particularly vulnerable to a moment like this? Why are some firms more vulnerable to political attacks than others? Together, the three discuss the firms' reciprocal agreements with the administration, the possibilities for a collective-action response, and how this moment may profoundly reshape the future of law, democracy, and capitalism in America.Show Notes:Watch a recording of the panel “Antitrust and the 1st Amendment” from the 2025 Stigler Center Antitrust and Competition Conference, featuring Greg Day, Eleanor Fox, and Matt Stoller, and moderated by Maciej Bernatt. The panel highlights how antitrust may stand in the way of collective action, competitive markets, and free speech.

Tid er penger har hatt gleden av å ha den legendariske journalisten og forfatteren Bethany McLean som gjest i podcasten. Det tok bokstavlig talt 2,5 år å booke dette intervjuet, og det var utrolig nok verdt ventetiden. Without further ado: Bethany McLean. Hosted on Acast. See acast.com/privacy for more information.

All too often, capitalism is identified with the for-profit sector. However, one organizational form whose importance is often overlooked is nonprofits. Roughly 4% of the American economy, including most universities and hospital systems, are nonprofit.One prominent nonprofit currently at the center of a raging debate is OpenAI, the $300 billion American artificial intelligence research organization best known for developing ChatGPT. Founded in 2015 as a donation-based nonprofit with a mission to build AI for humanity, it created a complex “hybrid capped profit” governance structure in 2019. Then, after a dramatic firing and re-hiring of CEO Sam Altman in 2023 (covered on an earlier episode of Capitalisn't: “Who Controls AI?”), a new board of directors announced that achieving OpenAI's mission would require far more capital than philanthropic donations could provide and initiated a process to transition to a for-profit public benefit corporation. This process has been fraught with corporate drama, including one early OpenAI investor, Elon Musk, filing a lawsuit to stop the process and launching a $97.4 billion unsolicited bid for OpenAI's nonprofit arm.Beyond the staggering valuation numbers at stake here–not to mention OpenAI's open pursuit of profits over the public good–are complicated legal and philosophical questions. Namely, what happens when corporate leaders violate the founding purpose of a firm? To discuss, Luigi and Bethany are joined by Rose Chan Loui, the founding executive director of the Lowell Milken Center on Philanthropy and Nonprofits at UCLA Law and co-author of the paper "Board Control of a Charity's Subsidiaries: The Saga of OpenAI.” Is OpenAI a “textbook case of altruism vs. greed,” as the judge overseeing the case declared? Is AI for everyone, or only for investors? Together, they discuss how money can distort purpose and philanthropy, precedents for this case, where it might go next, and how it may shape the future of capitalism itself.Show Notes:Read extensive coverage of the Musk-OpenAI lawsuit on ProMarket, including Luigi's article from March 2024: “Why Musk Is Right About OpenAI.”Guest Disclosure (provided to The Conversation for an op-ed on the case): The authors do not work for, consult, own shares in, or receive funding from any company or organization that would benefit from this article. They have disclosed no relevant affiliations beyond their academic appointment.

Our guest on the podcast today is Mellody Hobson. She's the author of a new book for children called Priceless Facts About Money. In addition, she's co-CEO of Ariel Investments, where she is responsible for management, strategic planning, and growth for all areas of Ariel outside of research and portfolio management. Additionally, she serves as chairman of the board of trustees of Ariel Investment Trust, the company's publicly traded mutual funds. Prior to being named co-CEO, spent nearly two decades as the firm's president. Outside of Ariel, Mellody has been active on corporate boards, including Starbucks, JPMorgan Chase, Estee Lauder, and DreamWorks Animation.BackgroundAriel InvestmentsBioAriel Community AcademyGratitude and Appreciation to Mellody Hobson, Starbucks“Just one Chicagoan made list of the 100 most powerful people in business,” by Jack Grieve, Crain's Chicago Business, Nov. 12, 2024“Why Sheryl Sandberg, Bill Bradley, and Oprah Love Mellody Hobson,” by Bethany McLean, Vanity Fair, March 30, 2015Book and MorePriceless Facts About Money“Mellody Hobson: ‘Most parents would rather talk about a condom than a credit card' ” by Madison Darbyshire, Financial Times, Dec. 10, 2024Oprah's Favorite Things 2024 List Is Here!“What Parents Get Wrong About Money and Their Kids” | The Oprah Podcast, Jan. 28, 2025Investing Discussions“Ariel Investments Starts New Fund to Tap Into Women's Sports,” by Miranda Davis, Bloomberg, Jan. 30, 2025“Mellody Hobson, Co-CEO & President, Ariel Investments,” The Economic Club of Chicago, Dec. 18, 2024.“Market Lessons from a Legendary Career of Doing Well by Doing Good,” 2024 Prime Quadrant Conference | Moderated by Mo Lidsky, Dec. 11, 2024“Solving the World's Hardest Problems with Mellody Hobson: Closing the Racial Wealth Gap,” Center for Strategic & International Studies, Aug. 28, 2024“Mellody Hobson on Taking Tough Feedback,” Ted Talk, June 15, 2021.“A Conversation with Mellody Hobson & Melonie Parker,” Catalyst Awards 2024, March 21, 2024.

Skyrocketing costs of attendance, declining enrollment, the advent of artificial intelligence, campus debates about free speech, and a crackdown on diversity initiatives: Today's universities are in a pickle. Adding to this pickle are President Trump's threats and actions on slashing research funding — the financial lifeline of modern universities. Last month, the Chronicle of Higher Education highlighted a new survey of a diverse group of university presidents who were asked if they “believe the Trump Administration is at war with higher education” — and 94% answered they strongly agree.Luigi and Bethany speak to one academic leader with deep experience at the heart of these debates: Nicholas Dirks, former Chancellor of UC Berkeley (2013-2017) and author of the book, "City of Intellect: The Uses and Abuses of the University." Together, the three of them discuss which idea of the university is still valid in the 21st century, how fundraising changed the governance of higher education, and how universities might navigate the challenges of Trump's second administration.Revisit our previous episodes:Universities and Politics: Should They Mix? with Hanna GrayThe Economics of Student Protests

We are joined by Bethany McLean on CSI Chat to talk about the learnings from Enron, the 2008 financial crisis and her most recent book, "The Big Fail:  What the Pandemic Revealed about Who America Protects and Who it Leaves Behind".  Bethany is a well-known journalist who published in 2001 the now famous article in Fortune, "Is Enron Overpriced".  Bethany is the author of several books, cohost of the podcast "Capitalisn't" and a special correspondent at Insider and a contributing editor at Vanity Fair.   During our "Chat" with Bethany, we talk about a number of topics including: We go back in a time machine to March 2001 when she first wrote "Is Enron Overpriced"?  What was Bethany thinking at the time?  What conversations did she have with the Enron executive team? After 20+ years since her article and the Enron collapse, have we learned anything?  Is history due to repeat itself? Why did she decide to write a book on the financial crisis of 2008 entitled "All the Devils are Here"?  Was the 2008 financial crisis preventable? Her most recent book, "The Big Fail", goes through the learnings of the COVID 19 pandemic.  What did we do well during the pandemic?  What were the areas that we could have done better?  Are we prepared for the next global pandemic.    It is a fascinating conversation with Bethany and I hope everyone enjoys it.  

Part 1 - Neville James is joined by Bethany McLean and Kahlil Ceaser of HB Arts International, they are multimedia, multi-talented artists that specialize in Body art, Canvas work, Airbrush, Murals, and much more.

In December 2024, Bitcoin, one of the earliest cryptocurrencies and undoubtedly the most famous, hit $2 trillion in market capitalization, bigger than Tesla, Meta, and Saudi Aramco. In this episode, Nobel Prize-winning economist and Chicago Booth finance professor Eugene Fama—widely considered the “Father of Modern Finance”—predicts it will go to zero within ten years.Legendary investor Ray Dalio called crypto a bubble a decade ago; now, he calls it “one hell of an invention.” Larry Fink of BlackRock previously referred to Bitcoin as an index of money laundering. Today, he sees it as “a legitimate financial instrument.” Less than 36 hours after launching his own cryptocurrency before his second inauguration, United States President Donald Trump appeared to have made more than $50 billion on paper for himself and his companies. (During his first term, Trump called crypto “not money, whose value is highly volatile and based on thin air.”) Amidst this noise of crypto doubters changing tune, Fama joins Bethany and Luigi to discuss why he remains dubious about Bitcoin's ambitions.Bitcoin uses more electricity than many countries—around 91 terawatt-hours annually. Is this amount unsustainable? What makes its value so volatile, and what are the implications for the banking sector and our economy? If cryptocurrencies' purpose is a reaction to an underlying distrust in financial institutions, can decentralized blockchain, the technological ledger that enables anonymous crypto exchange, fix it? Last but not least, why do supporters of a decentralized service, whose value lies in its existence outside traditional government structures, need to spend billions in lobbying to convince politicians, including the president, of its utility?Show Notes:Read ProMarket's archives on Bitcoin and cryptocurrency.Revisit our prior Capitalisn't episode with author Zeke Faux, The Capitalisn't of Crypto: SBF and Beyond.

This week, David Christopher Kaufman explains why Trump's first shot in the war on woke could backfire. Then, it was a cold-blooded murder that shocked the country when Luigi Mangione allegedly gunned down Brian Thompson, the C.E.O. of UnitedHealthcare. Bethany McLean will join us with her perspective on the case that's riveted the nation. And finally, Nick Turse will tell us why a shot of a certain bourbon costs $300 and bottles of it trade for $100,000 on the black market.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Dr. Charan Ranganath discusses the science behind our brain's capacity to remember (and forget) and how it can help you make better decisions and impressions. — YOU'LL LEARN — 1) How emotions shape memory2) How to hack your brain for enhanced retention 3) The 4 C's of memorable messaging Subscribe or visit AwesomeAtYourJob.com/ep1025 for clickable versions of the links below. — ABOUT CHARAN — Charan Ranganath is a Professor of Psychology and Neuroscience and director of the Dynamic Memory Lab at the University of California at Davis. For over 25 years, Dr. Ranganath has studied the mechanisms in the brain that allow us to remember past events, using brain imaging techniques, computational modeling and studies of patients with memory disorders. He has been recognized with a Guggenheim Fellowship and a Vannevar Bush Faculty Fellowship. He lives in Davis, California. • Harvard Business Review Article: "How to Craft a Memorable Message, According to Science" • Book: Why We Remember: Unlocking Memory's Power to Hold on to What Matters — RESOURCES MENTIONED IN THE SHOW — • Book: Influence: The Psychology of Persuasion by Robert Cialdini • Book: The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron by Bethany McLean and Peter Elkind • Book: All the Devils Are Here: The Hidden History of the Financial Crisis by Bethany McLean and Joe Nocera • App: Khan Academy • Past episode: 1012: Triple Your Learning through Productive Failure with Dr. Manu Kapur— THANK YOU SPONSORS! — • Acorns. Start saving and investing for your future today with Acorns.com/awesome • Earth Breeze. Get 40% off your subscription at earthbreeze.com/AWESOME• Lingoda. Get a 10% discount and up to 45 free classes with the code AWESOME2025 or https://try.lingoda.com/awesome2025See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Daniel Ziblatt is an American political scientist, Eaton Professor of the Science of Government at Harvard University, and the co-author (with Steven Levitsky) of several bestselling books, including How Democracies Die and Tyranny of the Minority. Ziblatt writes from the position that what defines strong democracies is free and fair competition for power, inclusive participation, and a package of civil liberties that make those first two conditions possible.2024 saw voters in more than 60 countries go to the polls—and deliver difficult outcomes for incumbents and traditional political parties. This week, Ziblatt joins Bethany and Luigi to discuss the fate of democracy after 2024. They explore how big money and corporate power have destabilized democracies worldwide by interfering with the conditions for free and fair competition for power. The consequence has been the movement of voters toward political extremes, which in turn can often threaten economic growth, civil liberties, and the rule of law. Nevertheless, should we judge the strength of democracy by process or outcome? Does democracy still thrive when the people vote for undemocratic politicians and parties?Together, Ziblatt and our co-hosts discuss how to curb global democratic decline by realigning government away from the interests of corporations or big money and back to those of the people.Episode Notes:Revisit ProMarket's series seeking to understand the issues of political economy driving global populist movements during the 2024 “year of elections.”

Are bailouts the new “trickle-down” economics? Have government debt and deficits caused capitalism's collapse—thus ending the American Dream?Ruchir Sharma is a well-known columnist for the Financial Times, the author of bestselling books Breakout Nations and The Rise and Fall of Nations, and an investment banker who worked as Morgan Stanley's head of emerging markets for 25 years. His new book, What Went Wrong With Capitalism, traces the roots of current disaffection with our capitalist economy to unabashed stimulus and too much government intervention. Take an example: Sharma writes that the United States federal government has introduced 3,000 new regulations in the last twenty years, and withdrawn just 20 over the same span. He likens the Federal Reserve's constant bailouts—under chairs appointed by presidents from both parties—to the opioid crisis, in which the solution created more problems than the pain it was designed to treat.Sharma joins Bethany and Luigi to explain how constant government intervention leads to inefficient “zombie” firms, higher property prices, housing shortages, massive inequality, and a historic government debt and deficit crisis. Together, they discuss the first step to a cure—a correct diagnosis of the problem—and how to approach the treatment without exacerbating the problems. In the process, they leave us with a renewed understanding of how “pro-business is not the same as pro-capitalism,” a distinction that Sharma says “continues to elude us.”Episode Notes:Link to submit papers for the Stigler Center 2025 Antitrust ConferenceRevisit “Is the Federal Reserve an Engine of Inequality?”, our previous episode on modern monetary theory or the claim that debt doesn't matter.Revisit “Capitalism After the Crisis,” Luigi's article for Foreign Affairs (2009), where he outlines the tensions between a pro-capitalism and a pro-business agenda. Also, check out ProMarket.org, our publication at the Stigler Center that he founded in 2016, with the mission of shedding light on this tension and how to ameliorate it.

Ravi welcomes back journalist and author Bethany McLean to explore the contentious public response to the assassination of UnitedHealthcare CEO Brian Thompson, what it reveals about the growing normalization of political violence, and the deepening anger towards America's healthcare system. They then turn to the rise of forces like private equity and the Make America Healthy Again movement as they discuss the tangled politics of profit, policy, and ideology. Finally, Ravi and Bethany take a closer look at opportunities for meaningful reform as they consider what lies ahead for healthcare and public health in America. Leave us a voicemail with your thoughts on the show! 321-200-0570 --- Follow Ravi at @ravimgupta Follow The Branch at @thebranchmedia Notes from this episode are available on Substack: https://thelostdebate.substack.com/ Lost Debate is available on the following platforms:  • Apple: https://podcasts.apple.com/us/podcast/the-lost-debate/id1591300785 • Spotify: https://open.spotify.com/show/7xR9pch9DrQDiZfGB5oF0F • YouTube: https://www.youtube.com/@ravimgupta • Google: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vTERJNTc1ODE3Mzk3Nw  • iHeart: https://www.iheart.com/podcast/269-the-lost-debate-88330217/ • Amazon Music: https://music.amazon.co.uk/podcasts/752ca262-2801-466d-9654-2024de72bd1f/the-lost-debate

A new U.S. Department of Government Efficiency (DOGE) is headed by Elon Musk and Vivek Ramaswamy. Its goals include administrative reductions, cost savings, regulatory cutbacks, and reducing federal spending by nearly $2 trillion. President-elect Donald Trump has called DOGE the "Manhattan Project of our time," and has indicated that DOGE will reduce regulatory burdens to firms and individuals. But is the act of cutting rules and regulations the same as cutting spending? Does it unleash the economy in a way that benefits everyone or just a select few who don't want the rules in the first place?Right now, it's impossible to know what DOGE will be able to accomplish, but there is another remarkably similar example we can learn from. Argentinian President Javier Milei took office a year ago with a promise to “take a chainsaw to the state.” As part of that promise, he appointed economist Federico Sturzenegger – a former classmate of Luigi's at MIT – as the Minister of Deregulation and State Transformation of the Argentine Republic. Within a year, Sturzenegger has overseen the review of approximately 42,000 laws, and as confirmed by Milei, is in "direct contact" with Musk.Bethany and Luigi talk to Sturzenegger to understand, most importantly, what Argentina's experience might foretell about DOGE's upcoming role and impact on the United States government and economy.

For years, the world worried about overpopulation and our capacity to sustain ever-increasing numbers of people. Now, the worry is underpopulation—and recent numbers are stunning. Fertility rate is the average number of children that are born to a woman over her lifetime. According to the United Nations, this number is currently 1.64 in the U.S.: If it stays this way, in three generations there will only be half as many young Americans as there are today, holding immigration constant. In China, this number is even lower: one child per woman. Just eight countries are expected to account for more than half the rise in global population between now and 2050.Economic theory is based on the idea of expansion, and humanity has been expanding since 1500. If that is about to change, then the very foundation of our economic theory will need rethinking.Acclaimed author, historian, and filmmaker Sir Niall Ferguson (Stanford/Harvard) joins Bethany and Luigi to discuss why we're heading toward a global population decline and what it all means for civilization. They discuss how factors like climate change, immigration, reproductive rights, artificial intelligence, and the trade-offs women face between career and motherhood are influencing decisions to have children. What are the implications of falling birth rates not just for the market economy but also for geopolitics and intergenerational conflict? Can we reverse trends in fertility before it is too late?

While Americans rely on debit transactions for the necessities of life, most are unaware of the networks that drive those transactions, nor are they aware that one company, Visa, has monopolized debit transactions, penalized industry participants that seek to use alternative debit networks, and co-opted innovators, technology companies, and financial institutions to forestall or snuff out threats to Visa's debit network dominance.” So begins the monopolization lawsuit filed on September 24 by the United States Department of Justice (DOJ) against the country's largest card company, Visa Inc.On one level, the case is simple: The DOJ alleges a clear violation of laws protecting markets against monopolies. But the case gets more complicated when looking at the details, in part because payment systems are mostly invisible part of the financial ecosystem. In effect, the DOJ alleges that Visa is pulling the levers of a really opaque and complex system to preclude competition and squeeze fees out of banks and vendors for itself.To understand the complexities and implications of the case, Bethany and Luigi are joined by Kathryn Judge, Harvey J. Goldschmid Professor of Law at Columbia University. Judge is an expert on banking, financial crises, regulatory architecture, and intermediation design beyond finance. Her book, Direct: The Rise of the Middleman Economy and the Power of Going to the Source (HarperBusiness, 2022), was on the long list for the Financial Times Business Book of the Year Award. Together, the three of them discuss both the surface-level and structural issues of an economy where consumers and small businesses are shortchanged on what is essentially a private sales tax on all debit-card purchases—and how to look for collective solutions when opt-outs aren't possible.Episode Notes: Also check out the ProMarket article “A DOJ Victory Against Visa May Not Help Merchants or Consumers” by Lulu Wang, Assistant Professor of Finance at Northwestern University's Kellogg School of Management.

In the 100th episode of the 9innings podcast, host Kevin Thompson, founder and CEO of 9i Capital Group, celebrates this milestone by reflecting on the journey and engaging with notable guests. Josh Brown, CEO of Ritholtz Wealth Management, discusses the impact of AI and consolidation in the financial advisory industry. David Kinder delves into fiduciary standards and Regulation Best Interest (RBI) in the insurance sector, highlighting the industry's resistance to fiduciary obligations. Tyrone Ross Jr., CEO of Turnkey Labs, emphasizes the importance of understanding cryptocurrency in financial planning. Bethany Mclean talks about healthcare disparities and how Covid-19 exposed our healthcare system. This episode underscores themes of autonomy, ethical standards, and continuous education.Discussion with Josh Brown (00:01:01).Consolidation in the RIA Industry (00:04:41)The Fiduciary Myth with David Kinder (00:10:36).Tyrone Ross Jr. on Crypto (00:18:16)Impact of Wealth Disparity in Politics with Matt k Lewis (00:24:14)Healthcare Inequality Exposed by COVID-19 with bethany McLean (00:29:12)Follow Us: youtube: / @9icap Linkedin: / kevin-thompson-ricp%c2%ae-cfp%c2%ae-74964428 facebook: / mlb2cfp Buy MLB2CFP Here: https://www.amazon.com/MLB-CFP%C2%AE-... Hit the subscribe button to get new content notifications. Corrections: Editing by http://SwoleNerdProductions.com

You asked and we answered: Over the last year, we have solicited listeners' questions via voicemail, email, and social media. In this episode, our producer, Matt, turns the tables on Bethany and Luigi and puts them in the hot seat to answer your burning questions in an Ask Me Anything “AMA” format.How do Bethany and Luigi actually define capitalism? Does universal basic income disincentivize work? Does the adoption of artificial intelligence mean we need to rethink economics? What would Bethany and Luigi do if they were president for a day? And perhaps the scariest one of all: does Luigi believe in taking time off?

In this episode of the "9innings Podcast," host Kevin Thompson, founder and CEO of 9i Capital Group, converses with Bethany McLean, author of "The Big Fail: How the Pandemic Revealed What America Protects and Who It Leaves Behind." They discuss the systemic failures exposed by the COVID-19 pandemic, focusing on healthcare disparities and the detrimental impact of private equity on the industry. McLean highlights the inadequacies in pandemic preparedness and the inequities faced by marginalized communities. The episode calls for a reevaluation of healthcare policies to prioritize equitable care and address the systemic issues revealed by the pandemic.Pandemic Preparedness Discussion (00:02:10) Nuanced Take on Pandemic Preparedness (00:03:10) Administration Trust Issues (00:05:05)Healthcare Inequality (00:08:01)Consequences of Hospital Resource Disparities (00:10:21) Capitalism vs. Healthcare (00:12:41) Individualism in Healthcare Attitudes (00:14:02) Private Equity's Impact on Healthcare (00:17:46) Government's Role in Business (00:19:39) Short-Term vs. Long-Term Capitalism (00:23:56) Flaws in the Healthcare System (00:27:05) Funding Community Hospitals (00:30:57) Reflection on Pandemic Lessons (00:32:17) Follow Us: youtube: https://m.youtube.com/channel/UCw9yLfTDBAprrLWvmcT6fFA Linkedin: https://www.linkedin.com/in/kevin-thompson-ricp%C2%AE-cfp%C2%AE-74964428/ facebook: https://www.facebook.com/MLB2CFP Buy MLB2CFP Here: https://www.amazon.com/MLB-CFP%C2%AE-90-Feet-Counting-ebook/dp/B0BLJPYNS4Hit the subscribe button to get new content notifications. Corrections: Editing by http://SwoleNerdProductions.com

International technology policy expert, Stanford University academic, and former European parliamentarian Marietje Schaake writes in her new book that a “Tech Coup” is happening in democratic societies and fast approaching the point of no return. Both Big Tech and smaller companies are participating in it, through the provision of spyware, microchips, facial recognition, and other technologies that erode privacy, speech, and other human rights. These technologies shift power to the tech companies at the expense of the public and democratic institutions, Schaake writes.Schaake joins Bethany and Luigi to discuss proposals for reversing this shift of power and maintaining the balance between innovation and regulation in the digital age. If a "tech coup" is really underway, how did we get here? And if so, how can we safeguard democracy and individual rights in an era of algorithmic governance and surveillance capitalism?Marietje Schaake's new book, “The Tech Coup: Saving Democracy From Silicon Valley,” is available here. Read an excerpt from the book on ProMarket here.

America's universities have powered its economy by developing an educated workforce and producing transformative technology, including the internet and vaccines. They were seen as vehicles for social mobility; when veterans returned home from World War II, the newly enacted G.I. Bill compensated millions with paid college and vocational school tuition. However, universities today are bloated and expensive, losing the public's trust, and have become a battleground for controversial culture wars. Project 2025, the Heritage Foundation's blueprint for a second Trump administration, plans significant cuts to university subsidies. A big battle is looming over the future of American universities.To shed some light on what this future might look like, Bethany and Luigi are joined by Hanna Gray, Distinguished Service Professor Emerita of History and President of the University of Chicago from 1978 to 1993 — a period marked by immensely challenging debates on free speech, financial constraints, and leadership decisions. Gray has written that the creation of the modern university “rested on a faith, pervasive in the post-war world, and the potential for education to create a better world, to produce both social mobility and a meritocratic society that would realize the true promise of democracy.” With her trademark humor, sharp wit, and unwavering resolve, she offers insights from her trailblazing experience into whether this promise is more unkept than kept and if faith will be enough for the modern university system to survive.Episode Notes: Read the Kalven Report on the University's Role in Political and Social Action here.

Is race a more consequential determinant of social mobility than class? How and under what circumstances do Americans move up the economic ladder?For years, Harvard economist Raj Chetty has leveraged big data to answer these questions. In his recent paper, Chetty and his team show that Black millennials born to low-income parents have more quickly risen up the economic ladder than previous Black generations, whereas their white counterparts have fared worse than previous low-income white generations. That said, Chetty finds little movement in or out of the top income brackets and that the income gap between Black and white Americans remains large.Chetty joins Bethany and Luigi to discuss these new insights as well as why mobility matters, what costs come in the pursuit of bolstering mobility, and how other factors such as parenting, gender, and social capital factor into the equation. What policies should America pursue, especially against the backdrop of the 2024 presidential election, where many conservatives argue that white working-class Americans are falling behind and liberals argue that Black and brown Americans continue to face systemic inequalities?Show notes:Revisit our Capitalisn't conversation with Oren Cass, who is mentioned by LuigiRevisit our Capitalisn't conversation on Chile, which is mentioned by BethanyCheck out related coverage on ProMarket, including a write-up by Raj Chetty and co-authors on "Lost Einsteins," mentioned in the episode

This week we're taking a quick summer break, but in the meantime, we wanted to re-share a special episode that is relevant in the news again. With the recent federal court ruling that Google engaged in illegal monopolization of internet searches, we thought it would be a great opportunity to share our episode with lawyer Dina Srinivasan. She's an expert in the field of competition policy and a fellow with the Thurman Arnold Project at Yale University. Google is no stranger to lawsuits and has previously defeated many of them, but now, antitrust experts are optimistic that this case against Google's advertising business is even stronger for the government than the Search case that Google lost just last week.To simplify the apparent complexity of the case and understand why and how it matters to consumers, the advertising market, the tech industry, and the economy, Luigi conducted a special bonus interview with Srinivasan. Following the interview, Bethany joins Luigi to discuss the implications of this case for consumer harm, the business model of journalism, democracy, and beyond.Read more on ProMarket: https://www.promarket.org/tag/google-ad-tech-case/ Watch: 2024 Antitrust and Competition Conference | Antitrust Case Studies: Google https://www.youtube.com/watch?v=Aw6-LaVh55U

Ralph welcomes Dr. Feroze Sidhwa, an American trauma surgeon who worked at the European Hospital in Khan Younis. They'll discuss Dr. Sidhwa's experience on the ground in Gaza, as well as his letter (co-signed by 45 other American medical practitioners) to President Biden, VP Harris, and First Lady Dr. Jill Biden. Then, Ralph is joined by University of Chicago Booth School of Business Professor Luigi Zingales to look at why business schools are setting capitalism up to fail.Dr. Feroze Sidhwa is a trauma and critical care surgeon as well as a Northern California Veterans Affairs general surgeon, and he is Associate Professor of Surgery at the California Northstate University College of Medicine. Dr. Sidhwa served at the European Hospital in Khan Younis in March and April of this year, and he has done prior humanitarian work in Haiti, the West Bank, Ukraine, and Zimbabwe. Dr. Sidhwa and 45 other American doctors and nurses who have served in Gaza recently sent a letter exhorting President Biden, VP Harris, and First Lady Dr. Jill Biden to effect an immediate ceasefire. Gaza is definitely unique compared to anywhere else that I've been—the level of violence, the level of displacement, the level of deprivation of normal things that society provides.Dr. Feroze SidhwaThere's so much in this letter, listeners, that you need to know about because it's such heartfelt and professionally documented close observation. This short interview cannot do justice to the horrors that Dr. Sidhwa and others observed—and they were just there for a few weeks. Ralph NaderOne of the things that we tried to emphasize in the letter is that we don't have anything to say about the politics of the Israel-Palestine conflict…We, as physicians, that's not what we're talking about.  We're talking about our own participation in a massive unprecedented assault on a civilian population. By a military that we fund—we supply, literally every day. We provide the training. We provide all the diplomatic cover. The economic support. Everything is coming from the United States. And in the end, the Israelis have already decided what they're going to do. They have decided to destroy Gaza. If half the people there die, oh well, if all of the people there die, oh well. But we don't have to be involved in it.Dr. Feroze SidhwaI think the situation in Gaza has reached such a level, the political moment in the U.S. with Biden not running again, has reached a certain level, and then with Netanyahu's bonker address to Congress—when Nancy Pelosi is openly criticizing the Prime Minister of Israel, he's really screwed up.Dr. Feroze SidhwaLuigi Zingales is the Robert C. McCormack Distinguished Service Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business. He co-developed the Financial Trust Index, which is designed to monitor the level of trust that Americans have toward their financial system. He is currently a faculty research fellow for the National Bureau of Economic Research, a research fellow for the Center for Economic Policy Research, a fellow of the European Governance Institute, and the director of Chicago Booth's Stigler Center for the Study of the Economy and the State. Professor Zingales is the co-host (with Bethany McLean) of the podcast Capitalisn't, and co-author (with Raghuram G. Rajan) of the book Saving Capitalism from Capitalists. These days, there is a lot of attention in business school about the environment, about so-called social responsibility, about all these aspects…but business schools like to keep separate the social aspects from the business aspects. So, in many places now there are classes on social entrepreneurship—which is something very interesting where people try to use their entrepreneurial skills to promote an initiative that is good for society at large, even if it's not necessarily profitable. But then if you are not a social enterprise, then you have to be the most capital, profit-maximizing firms on the face of the earth. There is nothing in between.Professor Luigi ZingalesOne year there was a management conference, and I organized a session on corporate fraud. And I expected a lot of people to show up and listen to the panel. In fact, it was a fiasco. Almost nobody showed up, because they don't want to confront their own limitations and problems. They want to see the more glitzy and shiny aspects of success. And that's what attracts them to business school, and that's what we end up selling to them. So I think that we are in part responsible because we cater too much to their own demand. Professor Luigi ZingalesIn Case You Haven't Heard with Francesco DeSantisNews 7/31/241. On Monday, nine Israeli soldiers were arrested on suspicion of raping a Palestinian prisoner at the Sde Teiman detention facility. In response, the Middle East Eye reports “Dozens of people…including members of parliament and Heritage Minister Amichai Eliyahu, gathered outside Sde Teiman and stormed the…facility…[and] Hours later, some 1,200 rioters gathered outside the Beit Lid base, where the nine suspects were taken for questioning.” This piece quotes military chief of staff Herzi Halevi who described the riots as “bordering on anarchy” and said the rioters harmed the military. Yet, “Finance Minister Bezalel Smotrich described the suspects as as ‘heroic warriors'…[and] National Security Minister Itamar Ben Gvir, who oversees the prisons where Palestinians are detained, called [the suspects] the ‘best heroes' and described the arrests as ‘shameful'.” One of these soldiers has now been released, according to the Middle East Monitor.2. Israeli Prime Minister Netanyahu addressed Congress last week amid mass protests in Washington D.C. During his speech, Axios reports six spectators were arrested for “disrupting” the address. All six of these demonstrators are family members of the Israeli hostages. Capitol Police spokesperson Brianna Burch is quoted saying “demonstrating in the Congressional Buildings is against the law.”3. In the U.K., the new Labour government is sending mixed messages on their Middle East policy. Late last week, the government announced that they would drop the United Kingdom's opposition to the International Criminal Court's arrest warrant against Netanyahu, per CNN. Yet this week, Foreign Secretary David Lammy announced that despite campaign promises, “Labour will…delay recognition [of a Palestinian state] indefinitely, making it conditional on Israel feeling ‘safe and secure,'” as reported by British blog Stats for Lefties. Labour continues to face pressure from independent MPs like Jeremy Corbyn on this issue.4. This week, President Nicolas Maduro was reelected in Venezuela. Elon Musk was caught spreading misinformation implying that Maduro engaged in election fraud – sharing a video that he claimed showed ballot boxes being stolen, when in fact the ballot boxes in question were actually air conditioning units, per Mediaite. The National Lawyer's Guild International Committee however, which sent a delegation to monitor the election, “observed a transparent, fair voting process with scrupulous attention to legitimacy, access to the polls and pluralism.” The NLG statement went on to decry “Despite the soundness of the electoral process, the U.S. backed opposition, with support from an anti-Maduro western press has refused to accept the results, undermining the stability of Venezuela's democracy.”5. Forbes reports that Disney has reached a deal with the unionized workers at Disneyland, ratifying a three-year contract that includes “a $24 hourly minimum wage…wage increases, seniority increases, more flexible attendance and sick leave policies, and other benefits.” This deal thus averts the first strike at the Anaheim park in four decades. Last week, More Perfect Union reported that the 14,000 unionized Disneyland workers “authorized a strike by 99%.”6. Jacobin reports “SpaceX [has won] a First Battle in Its Assault on the NLRB.” In this piece, People's Policy Project founder Matt Bruenig lays out how “SpaceX...[winning] a preliminary injunction in a Texas federal district court against the National Labor Relations Board… moves us closer to a potential Supreme Court decision declaring the NLRB unconstitutional.” This is the latest installment in the corporatist war on administrative law, which has already scored major victories in the SEC v. Jarkesy and Loper Bright Enterprises v. Raimondo cases. Bruenig notes that “For now, the district court's decision simply prevents the NLRB from processing a fairly run-of-the-mill unfair labor practice charge against SpaceX. The real question is going to be what the Supreme Court does once this case makes it to their docket. But in the meantime…it is likely that other companies subject to NLRB proceedings will seek similar injunctions.”7. A storm is brewing within the Kamala Harris campaign over Federal Trade Commission Chair Lina Khan. Democracy Now! Reports “some of the Democratic Party's biggest donors, including LinkedIn co-founder Reid Hoffman, are openly pushing Harris to fire…Khan, who has led Biden's antitrust efforts.” NBC notes that Hoffman is a billionaire megadonor and that other megadonors like Barry Diller are also calling for Khan's removal, and adds that “Khan's pro-consumer, pro-worker, anti-monopoly agenda has attracted no small amount of hate from powerful and monied interests.” On the other side, Senators Bernie Sanders and Elizabeth Warren and the Service Employees International Union – a close labor ally of Harris – have defended Khan. This battle illustrates the cross-cutting interests Harris will have to navigate as the Democratic nominee, and possibly, as president. We urge the Vice President to back Khan, not the billionaire donor class.8. The Washington Post is out with a heartbreaking new report on the increase of homelessness among “Working Americans with decent-paying jobs who simply can't afford a place to live.” This report cites data showing that homelessness, already at record highs, is only getting worse – growing by 61% in Southeast Texas over the past year, 35% in Rhode Island, and 20% in northeast Tennessee. Throughout the country, rents have risen by over 32% in four years and overall homelessness by 12%.9. In another disturbing economic trend, a new academic working paper out of UCLA and USC analyzes how the “widespread legalization of sports gambling over the past five years has impacted consumer financial health.” The most-discussed findings of this paper have to do with debt, with a “roughly 28% increase in bankruptcies and an 8% increase in debt transferred to debt collectors,” along with substantial increases in auto loan delinquencies and use of debt consolidation loans. As the researchers put it “these results indicate that the ease of access to sports gambling is harming consumer financial health by increasing their level of debt.”10. Finally, for some good news, the White House issued a statement Monday celebrating that “As of today, over 600,000 Teamster workers and retirees have pensions protected from devastating cuts,” as part of Biden's signature American Rescue Plan. This announcement came after the administration acted to protect 70,000 worker pensions in New England, building on similar actions in Ohio, Michigan, Illinois, Missouri, Wisconsin, Minnesota, and Pennsylvania. As the Boston Globe explains “The [American Rescue Plan] set up a special financial assistance program that allows struggling multi-employer pension plans to apply for assistance from the Pension Benefit Guaranty Corporation, a federal agency that protects the retirement incomes of workers in defined benefit pension plans.” The administration is paying particular attention to the protection of Teamsters, as that union's leadership has been flirting with an embrace of the GOP. Not one Republican voted for the American Rescue Plan.This has been Francesco DeSantis, with In Case You Haven't Heard. Get full access to Ralph Nader Radio Hour at www.ralphnaderradiohour.com/subscribe

Harvard professor of international political economy Dani Rodrik has long been skeptical of what he calls "hyperglobalization," or an advanced level of interconnectedness between countries and their economies. He first introduced his theory of the "globalization trilemma" in the late 1990s, which states that no country can simultaneously support democracy, national sovereignty, and global economic integration.At the time when he proposed his trilemma, Rodrik was considered an outcast. However, economists and policymakers have come to accept his theory as governments seek to address populism, trade imbalances, and uneven growth through renewed interest in industrial policy, or government efforts to improve the performance of key business sectors. Rodrik joins co-hosts Bethany and Luigi to discuss changing attitudes towards globalization: its distributional effects, how it affects politics, and how it is still searching for a narrative consistent between academic circles and the media. Together, the three of them discuss what role corporate America should play in our world restructured by economic and political populism and if economics is getting too far away from the rest of the social sciences when it comes to shaping industrial policy and creating the jobs of tomorrow.Show Notes:Read Rodrik's co-authored December 2023 paper on the "New Economics of Industrial Policy"Read an ebook by ProMarket on cutting-edge contemporary debates around industrial policy

In one of this year's bestselling books, "The Anxious Generation: How the Great Rewiring of Childhood is Causing An Epidemic of Mental Illness," New York University social psychologist Jonathan Haidt argues that today's childhoods spent under the influence of smartphones and overprotective parenting has led to the reported explosion in cases of teenage anxiety and depression. He calls this process a "three-act play": the diminishment of trust in our communities, the loss of a play-based childhood, and the arrival of a hyper-connected world.Haidt also believes the problem is solvable. On this episode of Capitalisn't, he joins Bethany and Luigi to discuss parenting, learning, adolescence, and in an age where Congress won't act on regulation, his four proposed solutions to break social media's "collective action trap" on children.But are his solutions feasible? How do we weigh their costs, benefits, limitations, risks, and the roadblocks to their implementation? What are the consequences of an anxious generation for our economy — and what can we really do about it?

If democracy is a social contract, why don't we allow everybody who is willing to sign it? Why don't we have open borders for immigration?In their book "Streets of Gold: America's Untold Story of Immigrant Success," Princeton University's Leah Boustan and Stanford University's Ran Abramitzky provide insights from big data to explore how immigration shaped the United States by looking at the economic legacies of immigrants and their children. On this week's encore episode, hosts Luigi Zingales and Bethany McLean talk with Boustan to unpack how immigrants and their progeny have impacted jobs, wages, and housing prices for native-born Americans. Conversely, how do immigrants' countries of origin overcome obstacles to socioeconomic change when many of their most-motivated citizens leave? Can data move the U.S. immigration debate beyond the current border crisis?

Bethany McLean, previously was editor at large with Fortune Magazine and is currently a writer for Vanity Fair. She has coauthored multiple books including The Smartest Guys in the Room and her most recent titled The Big Fail. On the podcast we discuss the Enron scandal, how Nvidia is different from Enron, 2008 GFC, private equity, the term PRIVATE CREDIT, and much more. PLEASE SUBSCRIBE LIKE AND SHARE THIS PODCAST!!!    Video Version of Show Rumble- https://rumble.com/v53dbh7-coffee-and-a-mike-episode-with-bethany-mclean-private-credit.html   Follow Bethany Twitter/X- https://x.com/bethanymac12 Website- https://www.vanityfair.com/contributor/bethany-mclean   Follow Me Twitter/X- https://twitter.com/CoffeeandaMike Instagram- https://www.instagram.com/coffeeandamike/ Facebook- https://www.facebook.com/CoffeeandaMike/ Truth Social- https://truthsocial.com/@coffeeandamike Gettr- https://gettr.com/user/coffeeandamike Rumble- https://rumble.com/search/all?q=coffee%20and%20a%20mike Apple Podcasts- https://podcasts.apple.com/us/podcast/coffee-and-a-mike/id1436799008     Support My Work Venmo- https://venmo.com/code?user_id=3570365208987017385&created=1658667789.4661531&printed=1 Website- www.coffeeandamike.com Email- info@coffeeandamike.com   Sponsors Independence Ark Natural Farming- https://www.independenceark.com/

In the last 60 years, few economists have contributed more to exposing the failures of capitalism than Joseph Stiglitz. Formerly the chief economist of the World Bank and chair of the U.S. Council of Economic Advisers under President Bill Clinton, Stiglitz won the Nobel Prize in Economics in 2001 for his work showing that the possibility of having different information can lead to inefficient market outcomes.On this episode of Capitalisn't, Stiglitz joins Bethany and Luigi to discuss his latest book, "The Road to Freedom: Economics and the Good Society" (W.W. Norton, 2024). The book, as Bethany describes it, is a "full frontal attack on neoliberalism" that provides a prospective roadmap towards a more progressive form of capitalism. Together, the three discuss the role of mis- and disinformation in producing market inefficiencies, the importance of regulation, institutional accountability, and collective action in correcting market failures, and the role of neoliberalism in today's global populist uprising. In the process, they underscore the close link between economic and political freedom.

The Enron scandal shook Americans' faith in their institutions. It also inspired a few different conspiracy theories. With the help of journalist Bethany McLean, Connor and Carter discuss the theories, Enron's legacy, and the impact the scandal has had on how many of us view the world.   Conspiracy Theories is now on Instagram @theconspiracypod and TikTok @conspiracy.pod! Follow us to keep up with the show and get behind-the-scenes updates from Carter and the team. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Is the famed American Dream still attainable for the immigrants and working class of today? What made America the land of opportunity — and if it isn't the same anymore, what happened to it?Joining co-hosts Bethany and Luigi to discuss these questions is David Leonhardt, Pulitzer Prize-winning journalist and author of "Ours Was the Shining Future." In his book, Leonhardt describes what he calls today's "rough-and-tumble" capitalism and distinguishes its laissez-faire characteristics from a more bygone, democratic version. Charting shifts in manufacturing, labor power, and the perennial tension between immigration and wages, Leonhardt and our hosts deliberate over the ramifications of this story for progressive and populist movements in a tumultuous election year and offer potential pathways to rekindle the promise of prosperity and upward mobility.

As much as we all want to move on from COVID, there are so many important lessons we need to learn from the many failures of the US response and fixing things for the future.  Two award-winning journalists are out with a new book, The Big Fail, that examines how the U.S. so badly bungled the pandemic and the lessons learned.  Co-author Bethany McLean joins Mosheh and breaks down what their reporting found. The book is critical of the left and the right, including Fauci, Trump, Newsom, DeSantis, the CDC, the teachers' union—pretty much everyone. The book runs the numbers and the final assessment on masks, the vaccine, school closures, the lockdowns that challenge conservative and liberal thinking four years later.  — Mosheh Oinounou (@mosheh) is an Emmy and Murrow award-winning journalist. He has 20 years of experience at networks including Fox News, Bloomberg Television and CBS News, where he was the executive producer of the CBS Evening News and launched the network's 24 hour news channel. He founded the @mosheh Instagram news account in 2020 and the Mo News podcast and newsletter in 2022. Follow Mo News on all platforms: Website: www.mo.news Instagram: https://www.instagram.com/mosheh/ Daily Newsletter: https://www.mo.news/newsletter Youtube: https://www.youtube.com/@monews Twitter: https://twitter.com/mosheh TikTok: https://www.tiktok.com/@mosheh Facebook: https://www.facebook.com/MoshehNews Snapchat: https://t.snapchat.com/pO9xpLY9

Critics of the food industry allege that it relentlessly pursues profits at the expense of public health. They claim that food companies "ultra-process" products with salt, sugar, fats, and artificial additives, employ advanced marketing tactics to manipulate and hook consumers, and are ultimately responsible for a global epidemic of health ailments. Companies are also launching entirely new lines and categories of food products catering to diabetes or weight management drugs such as Ozempic.Marion Nestle, a leading public health advocate, nutritionist, award-winning author, and Professor Emerita at New York University, first warned in her 2002 book "Food Politics" that Big Food deliberately designs unhealthy, addictive products to drive sales, often backed by industry-funded research that misleads consumers. This week on Capitalisn't, Nestle joins Bethany and Luigi to explore the ultra-processed food industry through the interplay of four lenses: the underlying science, business motives, influencing consumer perceptions, and public policy.

Over the last few weeks, university politics has captured headlines as students across the country occupy sections of their campuses and demand that their schools divest from Israel in protest of its contentious war in Gaza. Last week for Compact Magazine, Luigi and Nobel Laureate Oliver Hart stressed that one lesson from these protests is that universities need to make transparent their investment strategies and how they contribute to the school's financial operations, including financial aid.Increased transparency can inform ethical debates about divestment, but can it solve them? Even if students get what they want, will it matter? Or should they be focusing their efforts elsewhere to maximize impact? Who gets to make the decisions about the ethics of college endowment investments, and how should votes be divided between different stakeholders — students, faculty, alumni, and donors? This week on Capitalisn't, Bethany and Luigi record a late-breaking episode tackling these foundational questions that underlie the governance of today's universities.

The meteoric rise of private credit over the last decade has raised concerns among banks about unfair competition and among regulators about risks to financial stability. Historically, regulated banks have provided most of the credit that finances businesses in the United States. However, since the 2008 financial crisis, banks have restricted their credit lines in response to new regulations. In their place has arisen private credit, which comprises direct (and mostly unregulated) lending, primarily from institutional investors. Estimates peg the current size of outstanding private credit loans in the U.S. at $1.7 trillion.Private credit loans aren't traceable, and there are incentives to lend to riskier borrowers in the absence of regulation. This could lead to catastrophic spillover effects in the event of a financial shock. This week, Bethany and Luigi sit down with Jim Grant, a longtime market and banking industry analyst, writer, and publisher of Grant's Interest Rate Observer, a twice-monthly journal of financial markets published since 1983. Together, they try to answer if private credit is in the public interest.

Bethany McLean, author of best-selling books including, "The Smartest Guys in the Room", and "All the Devils are Here", climbs back aboard to The Express after receiving the SABEW Distinguished Achievement Award, to talk about how she broke open some of the biggest business stories of the past thirty years. From Enron to Elon Musk's SolarCity, Bethany talks about how she developed her sense of wrongdoing, her battles challenging the Power and the Powerful, and whether America's style of capitalism can be saved. LINKS FOR SHOW NOTES https://www.investopedia.com/terms/e/equityriskpremium.asp https://www.calpers.ca.gov/page/newsroom/calpers-news/2024/calpers-will-increase-private-markets-investments https://www.investopedia.com/what-to-expect-in-the-markets-this-week-8635421 https://podcasts.apple.com/us/podcast/inside-high-speed-business-cycle-private-equity-prepares/id1529322197?i=1000500819175 https://www.penguinrandomhouse.com/authors/229011/bethany-mclean/ https://www.capitalisnt.com/ https://www.investopedia.com/terms/f/failuretodeliver.asp https://www.investopedia.com/terms/n/nakedshorting.asp

"The only true aging is the erosion of one's ideals," says Ralph Nader, the former third-party presidential candidate who just turned 90 after more than 60 years of consumer advocacy and fighting for small business in America. From influencing the transformative passage of car safety legislation to advancing numerous environmental protection and public accountability causes, Nader has fought against the proliferation and insinuation of corporate power in our government.In between all of that, Nader has also found the time to develop a prolific writing career. In this week's episode, Nader joins Bethany and Luigi to discuss his new book, "Rebellious CEO: 12 Leaders Who Got It Right." The three talk about the possibilities of ethically profitable business, Nader's lifelong pursuit of justice, his views on the state of capitalism today, the political disillusionment of the public, and how we can reclaim democratic control of capitalism.

Given the recent mass layoffs, acceleration of media consolidation, continued decline of local journalism, and rapid uptake of generative AI, the news industry—fundamental to institutional accountability in capitalist democracies—appears to be in deep crisis. Joining Bethany and Luigi to make the case that journalism can not only survive but thrive is Ben Smith, longtime journalist, former New York Times media columnist, co-founder of global digital news publication Semafor, and the author of "Traffic: Genius, Rivalry, and Delusion in the Billion-Dollar Race to Go Viral."How much of today's state of journalism can be attributed to mistakes and how much to inevitability? Where does the marriage between social media and news go next? How can journalism remain financially viable? Offering a nuanced perspective on the opportunities and pitfalls facing the news industry today, the three of them discuss the future of journalism in the age of clicks and a path back to a media landscape that informs, educates, and holds power to account.

Bethany McLean is the author of the book, The Big Fail: What the Pandemic Revealed About Who America Protects and Who It Leaves Behind.  Get full access to What Happens Next in 6 Minutes with Larry Bernstein at www.whathappensnextin6minutes.com/subscribe

Perhaps the biggest evidence that capitalism in America doesn't work, at least not for everyone, is growing income inequality and the persistence of poverty. But what is the current state of poverty and inequality in the United States? Why do debates still persist about whether poverty has been eradicated? What do the numbers and official statistics tell us, and should we believe them? What do personal stories and experiences with poverty tell us that data cannot? If poverty has indeed been eradicated, what led to that achievement – and if it still persists, what more can be done to abolish it?Last year on this podcast, we did a series about this topic, and we found these episodes to be surprising and more informative than most of the debates about poverty you'll hear on the news. So, we wanted to condense that series down into a single episode that captures all of the highlights. The first speaker is former U.S. Senator Phil Gramm (R-TX), who argues in his recent book, "The Myth of American Inequality," that poverty is vastly overstated because official government data does not include transfer payments. The second is Princeton sociologist and Pulitzer Prize-winning author Matthew Desmond, who argues in his recent book, "Poverty, by America," that poverty is a terrible scourge, that we have made no progress, and that it is a moral outrage.The result is a nuanced, surprising, and informative debate on a multifaceted but important issue – leaving our hosts, as well as, by extension, our listeners – to formulate their own takeaways on what we can all do about them.Episode notes:Listen to the complete conversation with Sen. Phil GrammListen to the complete conversation with Dr. Matthew Desmond

In his recent book, "The Problem of Twelve: When a Few Financial Institutions Control Everything," Harvard law professor John Coates sheds light on the secrecy, lack of public accountability, concentrated power, and the disproportionate influence of a select few institutions in our financial system.Coates joins Bethany and Luigi to dissect the potential dangers of this era of financial consolidation and explore possible solutions, including accountability and transparency, to ensure a more equitable economic system. Specifically examining the "Big Four" index funds (Vanguard, State Street, Fidelity, and BlackRock) — that collectively hold more than twenty percent of the votes in S&P 500 companies — and the transformative rise of private equity funds, they discuss the challenges posed by concentrated financial power and its impact on markets, economies, and society at large. Show Notes:Read an excerpt of Coates' book (Columbia Global Reports) on ProMarketRevisit our earlier conversation with Hélène Landemore, referenced by Luigi in this episode"The book is available via Columbia Global Reports."    

Dan Nathan and Danny Moses sit down with Bethany McLean, co-author of “The Big Fail”. They discuss failures in the U.S. Government's response to the pandemic, concerns around Tesla and Elon Musk's leadership skills, being a contrarian in an environment that rewards blind obedience and where the cracks are starting to show on our financial systems. Subscribe to our newsletter: https://riskreversalmedia.beehiiv.com/subscribe — About the Show: On The Tape is a weekly podcast with CNBC Fast Money's Guy Adami, Dan Nathan and Danny Moses. Their offering takes on the biggest market-moving headlines of the week, trade ideas, in-depth analysis, tips and advice. Each episode, they are joined by prominent Wall Street participants to help viewers make smarter investment decisions. Bear market, bull market, recession, inflation or deflation… we're here to help guide your portfolio into the green. Risk Reversal brings you years of experience from former Wall Street insiders trading stocks to experts in the commodity market. — Check out our show notes here See what adding futures can do for you at cmegroup.com/onthetape. — Shoot us an email at OnTheTape@riskreversal.com with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod on Twitter or @riskreversalmedia on Threads — We're on social: Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow Liz Young @LizYoungStrat on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

The Wall Street Journal wrote that “Wall Street's best-known bear is going into hibernation" after the legendary short seller Jim Chanos announced he would close his main hedge funds late last year, in part due to diminishing interest in stock picking. Short selling, which bets on drops in asset prices, wins when companies and governments fail and has gained a predatory reputation over the years. Just last week, the China Securities Regulatory Commission vowed "zero tolerance" against what they called "malicious short sellers," according to Reuters.One of our listeners wrote to Bethany with this question: “What does it say about capitalism if Jim Chanos can't find enough investors willing to profit from its frauds, fads, and failures, not to mention the competitive forces that are necessary for a functioning market? Is short selling dead?” To discuss this, Luigi and Bethany sat down with Chanos himself, who has been cast as the “Darth Vader of Wall Street,” the “Catastrophe Capitalist,” and the “LeBron James of short selling.” Together, they discuss the relationship between short sellers and our information environment, the fallout from the "meme stock" craze, the effects of the Federal Reserve's interest rate policies, and how short selling can contribute to market efficiency and resilience. Do short sellers play a positive role by uncovering corporate fraud, mismanagement, and systemic risks? What safeguards are necessary to prevent short-selling abuse and ensure fair and transparent markets?

According to the latest industry statistics, the global influencer economy grew from $1.7 billion in 2016 to $21.1 billion in 2023 — and it's only expected to grow exponentially from here with advances in artificial intelligence. In 1988, Noam Chomsky and Edward S. Herman investigated how mass media sways audiences to conform to social norms without coercion, or what they called “manufacturing consent.” In her new book, “The Influencer Industry: The Quest for Authenticity on Social Media,” Dr. Emily Hund investigates how social media influencers have manufactured a new media economy to which we've unwittingly consented.Hund, a research affiliate at the Center on Digital Culture and Society at the University of Pennsylvania's Annenberg School for Communication, joins Bethany and Luigi to unpack this new digital landscape where influence has become a powerful currency, shaping not only news consumption and consumer behavior but the very fabric of modern capitalism. Together, they discuss whether influencers are empowered entrepreneurs rewriting market rules or victims of a system that commodifies identity. What are the hidden incentives driving influencer messaging and, thus, the news and content we receive?Read an excerpt from Hund's book (Princeton University Press, 2023) on ProMarket.

Ex-Trump lawyer Rudy Giuliani has been ordered to pay more than $148 million to Georgia election workers Shaye Moss and Ruby Freeman in damages. Giuliani plans to appeal, claiming he did not get a fair trial in his defamation case. President Biden faces multiple political crises heading into the holiday season, from securing wartime aid for Ukraine and Israel to an impeachment inquiry. A presidential historian puts the current political climate into perspective. Nearly four years after the pandemic, the U.S. is still learning about what went wrong. Authors of a book on the virus and the U.S. response join to discuss. Eugene Daniels, Greg Bluestein, Anthony Coley, Adrienne Elrod, Shermichael Singleton, Michael Beschloss, Joe Nocera and Bethany McLean join.

While many of us would prefer to forget the pandemic ever happened, the choices we made (as a society and perhaps, personally) in 2020 continue to have lingering effects. We know that women were disproportionately affected by the pandemic — an estimated two million women left the workforce due to the strains of caregiving. So, did the government do a good job of protecting us? And how are policies that were put in place, (such as stimulus checks and extended unemployment) still affecting our wallets?  Bethany McLean, co-author of: “The Big Fail: What the Pandemic Revealed About Who America Protects and Who It Leaves Behind” discusses why we all need to take the time to learn about the effects of global events on our personal economies.  In Mailbag, we hear from a listener who has a question about the 2026 change on estate tax exemption, and we hear from someone who's wondering if they should transfer their credit card balance to a zero-interest card. For our money tip of the week, we discuss why the “set it and forget it” method of paying your monthly credit card bill could be hurting you financially.  More money news when you need it! Get the latest and greatest updates on all things investing, budgeting and making money. Subscribe to the HerMoney newsletter at Hermoney.com/subscribe. The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Google's Bard just got an upgrade, can it catch up to OpenAI's ChatGPT? (00:21) Ron Gross and Andy Cross discuss: - New jobs report numbers, Alphabet's latest AI move bringing Gemini into Bard, and GameStop's curious corporate investing plan update. - Chewy's status as the #1 pet pharmacy in the U.S., Lululemon's business-as-usual quarter, and Smuckers showing it has pricing power in peanut butter. (19:11) Journalist and author Bethany McLean's talks with Deidre Woollard about her latest book “The Big Fail” and takes a look at the past three years, how we responded to COVID, and the lasting effects on households, businesses, and the economy. (33:05) Ron and Andy break down two stocks on their radar: Target and MongoDB. Stocks discussed: GOOG, GOOGL, GME, DOCU, CHWY, LULU, SJM, MDB, TGT Host: Dylan Lewis Guests: Andy Cross, Ron Gross, Bethany McLean, Deidre Woollard Engineer: Dan Boyd Learn more about your ad choices. Visit megaphone.fm/adchoices

Kick the conventional wisdom. In this episode of Rapid Response, Bethany McLean and Joe Nocera sit down with Bob Safian to discuss their book, The Big Fail: What the Pandemic Revealed About Who America Protects and Who It Leaves Behind. The pair faced blowback for their damning investigation of business leadership in the wake of COVID. They share how lockdowns may have miscalculated risk versus reward, the pros and cons of a market-based society, and the era's parallels to the Enron debacle. Plus, they share vital leadership lessons about adapting to new information instead of relying on precedent, and why no decision should be made out of panic. Read a transcript of this episode: https://mastersofscale.com/Subscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.