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How Wall Street Launders Dogsh*t Into Retirement Funds
How Wall Street Launders Dogsh*t Into Retirement Funds
Submitted by QTR's Fringe Finance
One of the more embarrassing habits of modern finance is its insistence on pretending the stock market has some integrity left.
Capital, we used to think, flowed to the most productive businesses. Prices reflected fundamentals. Risk was priced. The market, in the long run, separated signal from noise and rewarded cash generation over fantasy. That is the civics-class version of markets, and at this point it bears no resemblance to the one we actually trade in.
The market’s core failure...
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