Throughout the recent election, politicians painted Wall Street banks as the reigning lords of the American economy, such that Bernie Sanders urged we break up the banks in order to protect the little guy, the American Main Street. Rana Foroohar argues that this trend of “financialization” has incentivized companies to engineer their balance sheets and their bottom lines – corporate short-termism — to the detriment of real job creation and long term growth. Hillary Clinton would agree. We discussed.
Foroohar was an assistant managing editor at Time and the magazine’s economics columnist, and starts soon at the Financial Times as chief business columnist and associate editor. She is also a global economic analyst for CNN.
Her book is Makers and Takers: The Rise of Finance and the Fall of American Business, short-listed for the Financial Times/McKinsey & Co Book of the Year prize.