What’s Crypto Good For? Corruption, Exploitation, and Billions for Insiders
As with the subprime lending crisis, crypto appears to be more of an example of predatory inclusion than enhancing financial access.
In the second quarter, Morgan Stanley lost $1.26 billion. However, it managed to set aside $3.9 billion for bonuses during that time. In fact, despite 3 straight quarters of losses, it has set aside over $6 billion for bonuses. Looks like they're going to need another bailout soon.
From the Washington Post:
Rest of the story is here.