May 26, 2021
How Billionaires’ Secretive Speculation Threatens the Next Financial Meltdown
The implosion of Archegos is an early warning sign about the next generation of unaccountable capital and exotic, risky financial instruments hidden inside ‘family offices.'
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Here’s the recipe: Start with a few billionaires. Next, let them put trillions of dollars in unregulated pools of capital. Next, add a dash of pandemic speculation.
What could possibly go wrong?
Meet the family office, the last known vestige of the shadow financial system—and a potential cause of the next meltdown.
…
Read the full article at MarketWatch.
Originally in MarketWatch.
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