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The Battle for the Soul of Capitalism

How the Financial System Undermined Social Ideals, Damaged Trust in the Markets, Robbed Investors of Trillions—and What to Do About It
in: Investing
Summary:

The book critiques the transformation of the American financial system, arguing that it has strayed from its original purpose of serving shareholders and the public good to instead prioritizing the self-interests of corporate managers and Wall Street. It discusses the consequences of this shift, including the erosion of trust, the loss of investor wealth, and proposes reforms to realign the system with its foundational values and restore integrity to the markets.

Key points:

1. Ownership Shift: Bogle notes a change from shareholder-driven to manager-driven control in companies, hurting shareholders and society.

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