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Carried interest began a way to pay slavers for the portion of their human cargo they cast overboard at sea. Accounting is not my forte, but I think that being allowed to "mark to magic", instead of MARK TO MARKET is the key to much of the skullbuggery. At present I a bit overwhelmed with trying to keep the Mango Mussolini out of the White House. My an overview of business practices being run by global bankers, see: https://medium.com/@daneke/when-the-wank-became-swank-money-banking-and-the-evolution-of-the-all-debt-economy-22e334f8ee3e

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Greg Daneke, Emeritus Prof.
Greg Daneke, Emeritus Prof.

Written by Greg Daneke, Emeritus Prof.

Top Economics Writer, Gov. service, corp consulting, & faculty posts (e.g., Mich., Stanford, British Columbia). Piles of scholarly pubs & occasional diatribes.

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