Anat Admati on Financial Fragility, Accountability, and the Future of Capitalism

Stanford professor and financial reform advocate Anat Admati joins Jim to unpack the growing fragility in our financial system and the dangerous myths still shaping public policy. From shadow banking and corporate debt subsidies to crypto hype and post-crisis denial, Admati pulls no punches in exposing the deep structural flaws threatening American capitalism.

They discuss why financial regulations continue to fall short and what real reform would look like. Admati explains how public anger after 2008 was hijacked by dangerous narratives, why crypto's promise is largely a mirage, and how shadow banking adds new layers of systemic risk. She makes the case for genuine accountability—in both government and the private sector—and warns of the moral cost of allowing “profitable misconduct” to persist.

This is a candid conversation about fragility, power, truth—and what it will take to rebuild a system that actually serves society.