684. He Helped Clean Up the Last Crash. Does He See Another One Coming?

Aug 7, 2026 · 1h 7m · YouTube

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EP · Freakonomics Radio · 684. He Helped Clean Up the Last Crash. Does He See Another One Coming?1:06:59

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0:04The U.S.

0:05economy is made up of 20 different sectors, as the government calls them.

0:09There is the agriculture sector, manufacturing and construction, healthcare, transportation, and energy.

0:16One of these 20 sectors is fundamentally different from the rest.

0:21Why?

0:22Because it intersects with every other sector with an intensity and at a scale that we have never seen in human history.

0:31I am talking about the finance sector.

0:33Listen to Gary Gensler.

0:36Finance is a critical piece of American exceptionalism.

0:39We're about 4% or so of the world's population.

0:43We're 25% of the world's economy, but we're 50% of the world's capital markets.

0:50It's easy to argue, and some people have, that we are living through the greatest period of wealth creation in history.

0:58The financial markets that support this growth are exceedingly complex, and few people understand them as well as Gary Gensler.

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