Finance in the Dark: The Unregulated Industry at the Heart of the American Economy

PERI researcher Lenore Palladino discusses the insidious rise of unregulated private markets and credit. She posits that only ambitious regulatory reform can check its power.

“Unregulated finance is becoming the center of gravity in financial markets, which are increasingly drawing non-wealthy households into their vortex. Our entire financial system is moving not just into the shadows, but into the dark, with the activities of such firms highly opaque and largely protected from public scrutiny.’