How Money Became Dangerous
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 21 November 2019
⏱️ 32 minutes
🧾️ Download transcript
Summary
In the not too distant past, money was simple. You might have had a bank account and a mortgage, perhaps some basic investments. Wall Street didn’t have a reputation for greed and recklessness.
That all started to change in the eighties, as our financial systems became increasingly complex, moving beyond the understanding of the general public while impacting our lives in innumerable ways.
Our latest guest, Chris Varelas, is an industry veteran who’s had first hand involvement in the events that shaped modern money, and in his recently released book, How Money Became Dangerous, Varelas and co-author Dan Stone journey from the crime-ridden LA jewelry district to the cutthroat Salomon Brothers trading floor, capturing the key deals, developments, and players that made the financial world what it is today.
The book illuminates the dark, hidden forces of Wall Street and how it has dehumanized and left behind everyday Americans. A fresh and enlightening take on how we reached this point, How Money Became Dangerous also makes the case for why Wall Street needs to be saved, if only to save ourselves.
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Transcript
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| 0:00.0 | Hi, it's Jill Schlesinger on this episode of Jill on Money, |
| 0:06.2 | why you need to find a little bit of love |
| 0:08.6 | for the financial system. |
| 0:10.2 | The financial system is like your blood supply. |
| 0:12.0 | You don't want to think about it, but you can't survive without it. |
| 0:15.0 | You only think about it when it's infected. You start to look at the whole financial system as like a bad thing, |
| 0:20.0 | when it's doing so much for you. |
| 0:22.0 | Welcome to the Jill on Money Podcast. |
| 0:24.5 | We are presented by Marcus by Goldman Sachs. |
| 0:27.4 | We always like to bring in cool guests, |
| 0:30.0 | and I'll be honest with you. |
| 0:31.3 | When I first read about this guy, |
| 0:33.2 | I immediately pounced and said, |
| 0:35.2 | Mark, we have to have him. |
| 0:37.1 | Why? |
| 0:37.8 | Not because I knew anything about him. |
| 0:39.3 | I just love the title of his book, |
| 0:41.2 | how money became dangerous. The inside. title of his book, How Money Became Dangerous. |
| 0:44.0 | The Inside Story of our Turbulent |
| 0:46.4 | relationship with Modern Finance. |
| 0:49.0 | The author is Christopher Varellis. |
| 0:50.7 | He wrote the book with a guy named Dan Stone, but I wanted to interview Vareles. |
... |
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