The Rabid Capitalist

Professor Glenn A. Okun

The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.

The Federal Reserve’s announcement this week that higher interest rates are here to stay will wreck consumer fintech lenders.  The shares of Affirm, Block, Robinhood and others are forecasting trouble, producing declines of nine to twenty percent this week compared to a three percent drop for the S&P 500 index.  The rate environment will expose the fundamental flaws in fintechs that were created by technologists lacking financial services expertise.

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