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More Secrets Than The CIA: Investigating McKinsey’s Influence on the World

Mo News

@mosheh / tentwentytwo

News, Daily News, News Commentary

4.92K Ratings

🗓️ 15 December 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

It is the most prestigious consulting company in the world, and yet most of us know very little about McKinsey.  The multi-billion dollar firm helps governments around the world and the Fortune 500 make key decisions when it comes to their businesses and their images. McKinsey clients have included big tobacco, opioid makers, the Chinese government as well as US government agencies & the companies they regulate (at the same time). However, all of that work is shielded by NDAs.  How does all that work? Is it legal or ethical? And, how has McKinsey impacted the lives of millions of Americans and people around the world through their consulting relationship? Those are some of the questions we asked investigative reporter Walt Bogdanich in this episode. His book, When McKinsey Comes To Town, follows a multi-year investigation. — Mosheh Oinounou (@mosheh) is an Emmy and Murrow award-winning journalist. He has 20 years of experience at networks including Fox News, Bloomberg Television and CBS News, where he was the executive producer of the CBS Evening News and launched the network's 24 hour news channel. He founded the @mosheh Instagram news account in 2020 and the Mo News podcast and newsletter in 2022. Follow Mo News on all platforms: Website: www.mo.news Instagram: https://www.instagram.com/mosheh/ Daily Newsletter: https://www.mo.news/newsletter Youtube: https://www.youtube.com/@monews Twitter: https://twitter.com/mosheh TikTok: https://www.tiktok.com/@mosheh Facebook: https://www.facebook.com/MoshehNews Snapchat: https://t.snapchat.com/pO9xpLY9

Transcript

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0:00.0

Hey everybody, welcome back to another edition of the Mo news podcast.

0:07.9

Today we have a special interview with a great investigative reporter, his name is Walt

0:12.3

Bugdannich.

0:13.3

Yes, she spent time at 60 minutes, a CBS, he's now been an investigative reporter for a long

0:16.8

time at the New York Times, his most recent investigation lasted several years into the

0:21.3

world's most powerful and influential consulting firm McKinsey.

0:26.1

Some of you might have heard of McKinsey, some of you might know people who work there.

0:29.5

It certainly has gotten a lot of attention in recent years and he spent some time digging

0:34.8

into this mysterious world and a number of their clients, which range from China to

0:40.4

produce pharma to the CIA.

0:42.6

In fact, he says that McKinsey has more secrets than the CIA, so they were very difficult

0:47.6

to investigate, they can sell for corporations, they can sell for governments, sometimes

0:51.8

they're consulting for two sides, both sides at the same time as negotiations happen.

0:56.4

And so Walt breaks down what takes place there and in particular spent some time on their

1:00.6

consulting for Purdue pharma and the opioid crisis, their role in that the several hundred

1:05.6

million dollar fine they recently had to pay.

1:07.7

So we dive in to the good, the bad and the ugly with McKinsey with Walt here.

1:13.0

It's all the subject of his new book when McKinsey comes to town and I think everyone

1:17.1

will come away with some interesting perspective and what happens in some of the back rooms

1:21.4

and why some of the decisions that you see public, how they came to be and who's in the

1:26.7

room making these decisions.

1:28.5

All right, before we get started here, a reminder to consider joining Mo News Premium for

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