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12 April 2024 Economics & Growth

Ep. 211: John Coates on How a Few Financial Institutions Control Everything

Bilal Hafeez

John Coates is the Deputy Dean of Harvard Law School. He has served at the Securities and Exchange Commission, and was a partner at Wachtell, Lipton, Rosen & Katz, specializing in financial institutions. He has testified before Congress and provided consulting services to the Department of Justice, the Department of Treasury, and the New York Stock Exchange. He is author of the ‘The Problem of Twelve: When a Few Financial Institutions Control Everything’. This podcast covers:

Rise of the public company
How companies balance the interests of society
The 1970s disruption to corporate order
Rise of hostile takeovers in 1980s
Rise of index funds in 2000s
Index funds owning large stakes in public companies
How they exert control
Impact of private equity
Lack of disclosure
Impact on politics
Pressure on index funds
Do investment banks matter?
Books mentioned: The Three-Body Problem (Liu), Wolf Hall (Mantel)

You can follow John here, here, and here.

Make sure to subscribe to the show on Apple, Spotify, YouTube, or wherever you go for your podcasts. You can follow us on Twitter and LinkedIn.

(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)

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