Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures:

How ‘Deepfake Elon Musk’ Became the Internet’s Biggest Scammer: An A.I.-powered version of Mr. Musk has appeared in thousands of inauthentic ads, contributing to billions in fraud. (New York Times)

Secretive Dynasty Missed Out on Billions While Advisers Got Rich: Peter Harf and Olivier Goudet became billionaires while managing the Reimanns’ money. The family would have done better if they’d put their wealth in a low-cost index fund. (Bloomberg)

Insurance lobbyists block federal crackdown on costly retirement advice: The financial services industry has blocked the Biden administration from requiring brokers to put retirees’ needs first — above lucrative commissions. (Washington Post)

The one weird monopoly trick that gave us Walmart and Amazon and killed Main Street: Walmart didn’t just happen. The rise of Walmart & Amazon, its online successor was the

Keep reading this article on Barry Ritholtz - The Big Picture.

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