POLITICO
How the GameStop frenzy sabotaged a bid to ‘democratize’ finance
The episode with Robinhood Financial has unearthed a growing sentiment on the left: “Fintech” is just a fancy word for everything they already hate about finance.
In this photo illustration, the Robinhood logo is displayed on an iPhone on December 17, 2020 in San Anselmo, California. | Photo illustration by Justin Sullivan/Getty Images
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Democrats have long been conflicted over financial technology companies like online lenders, praising the flashy upstarts for their ability to help lower-income Americans build wealth yet wary of the risks they pose to unsuspecting consumers.