Most people greatly underestimate how deleterious financial scams, fraud and cheating have been on our economy and democracy over the past 20 years. Not to mention, all the energy and resources that have been funneled into financial trickery and away from other productive activities. This is a cancer eating at the fabric of civil society, and we, the people, need to demand substantive changes and reforms if we are to get out from under.
The pioneers of the hedge-fund industry changed Wall Street. By placing at times brilliant bets in the market they gained considerable personal wealth, but according to New Yorker staff writer Sheelah Kolhatkar, an outsize influence on society too. She joins The Agenda to discuss the seven-year investigation into Steven A. Cohen, one of the industry’s biggest success stories, and her book, “The Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street.” Here is a direct video link.