In the 1970s, NYC teetered on the verge of bankruptcy. This crisis lead to the dismantling of the city's generous social safety net. On this week's Odd Lots podcast, we speak to Kim Phillips-Fein, historian and author of "Fear City: New York's Fiscal Crisis and the Rise of Austerity Politics." She walks us through what happened then, and what lessons it holds for fiscal politics today. 

In the 1970s, NYC teetered on the verge of bankruptcy. This crisis lead to the dismantling of the city's generous social safety net. On this week's Odd Lots podcast, we speak to Kim Phillips-Fein, historian and author of "Fear City: New York's Fiscal Crisis and the Rise of Austerity Politics." She walks us through what happened then, and what lessons it holds for fiscal politics today.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Tuesday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday, Thursday, and Friday.

On Bloomberg&rsquo;s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday, Thursday, and Friday.

The NYC Fiscal Crisis Of The 1970s Has Some Important Lessons For Today

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/32a4613d-f59a-40dd-800d-ae27005a65dc/transcript

The relationship between the US and Europe is deteriorating along both security and economic dimensions. The Trump administration has imposed tariffs, while also being sharply critical of NATO allies. So what are European leaders to do? Hope things go back to normal in the US? Or perhaps become closer with China? Our guest on this episode says the latter would be a grave mistake. This episode was recorded live on April 1 at the DC headquarters of the Council on Foreign Relations. We spoke with Gina Raimondo, now a CFR Distinguished Fellow, who previously served as the commerce secretary in the Biden Administration, and prior to that was the governor of Rhode Island. She discusses her view that European industry is being hollowed out by China, and that the only path forward is a global, unified, non-China trading bloc, which is an idea that's being thwarted by the Trump administration. We also talk about the legacy of the CHIPS Act, and her fears about AI creating mass unemployment and destabilizing our democracy.

Read more:
US Lawmakers Propose Crackdown on Chip Tool Sales to China
Cheap Chinese Cars Are Waiting on Detroit's Doorstep

Only http://Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots

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Join the conversation:discord.gg/oddlots

The relationship between the US and Europe is deteriorating along both security and economic dimensions. The Trump administration has imposed tariffs, while also being sharply critical of NATO allies. So what are European leaders to do? Hope things go back to normal in the US? Or perhaps become closer with China? Our guest on this episode says the latter would be a grave mistake. This episode was recorded live on April 1 at the DC headquarters of the Council on Foreign Relations. We spoke with Gina Raimondo, now a CFR Distinguished Fellow, who previously served as the commerce secretary in the Biden Administration, and prior to that was the governor of Rhode Island. She discusses her view that European industry is being hollowed out by China, and that the only path forward is a global, unified, non-China trading bloc, which is an idea that's being thwarted by the Trump administration. We also talk about the legacy of the CHIPS Act, and her fears about AI creating mass unemployment and destabilizing our democracy.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-04-02/us-lawmakers-propose-crackdown-on-sales-of-chip-tools-to-china?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-prosemirror-content-type="mark" data-prosemirror-mark-name="link">US Lawmakers Propose Crackdown on Chip Tool Sales to China</a> <a href="https://www.bloomberg.com/news/articles/2026-04-02/cheap-chinese-cars-are-waiting-on-detroit-s-doorstep?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-prosemirror-content-type="mark" data-prosemirror-mark-name="link">Cheap Chinese Cars Are Waiting on Detroit's Doorstep</a>
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Gina Raimondo on How European Industry Is Getting Crushed

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0f69af23-639c-4945-b255-b42001763c8a/transcript

There's obviously a lot of talk these days about AI and possible destruction of white collar jobs. Intuitively bankers might be expected to be victims of this. But before we can answer whether AI can disrupt an industry, or a line of work, we have to know what the job actually entails. What do investment bankers actually do, and why are they paid for it? To answer this question, we speak with Scott Bok, the longtime former CEO of the investment bank Greenhill. Scott is also the author of the book Surviving Wall Street: A Tale of Triumph, Tragedy, and Timing. We discuss how the industry changed in his career, what type of people thrive in it, and how AI could change the nature of the profession.

Subscribe to the Odd Lots NewsletterJoin the conversation: discord.gg/oddlots

There's obviously a lot of talk these days about AI and possible destruction of white collar jobs. Intuitively bankers might be expected to be victims of this. But before we can answer whether AI can disrupt an industry, or a line of work, we have to know what the job actually entails. What do investment bankers actually do, and why are they paid for it? To answer this question, we speak with Scott Bok, the longtime former CEO of the investment bank Greenhill. Scott is also the author of the book Surviving Wall Street: A Tale of Triumph, Tragedy, and Timing. We discuss how the industry changed in his career, what type of people thrive in it, and how AI could change the nature of the profession.
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Scott Bok Explains What Investment Bankers Actually Do All Day

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ff4f5daf-7813-40a9-aa95-b42001543192/transcript

When you consider the fact that many people don't know how and where to place a comma, it's safe to say that AI is already better than most people at writing. It's clean copy. It can be surprisingly persuasive. And sometimes, it's even informative. But there's frequently still something about it that just seems... off. Many people can tell quite quickly when they're reading AI-generated text. And beyond the style, the existence of AI generated text has all kinds of ramifications, from making it easier for students to cheat, to the rise of deceptive chatbots, to potentially degrading the experience on sites like Reddit. So how do you actually tell if a piece of writing was generated by AI? On this episode, we speak with Max Spero, the CEO of Pangram Labs, a company that built software to detect whether a piece of content was AI generated or not. We talk about the advanced techniques they use, the risk of false positives and false negatives, and what AI writing means in general for the future of the Internet.

Read more:
The AI Video Apps Gaining Ground After OpenAI Declared Sora Dead
Credit Derivative Trading Shatters Records on Iran War, AI Fears

Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots

Subscribe to the Odd Lots Newsletter
Join the conversation:discord.gg/oddlots

When you consider the fact that many people don't know how and where to place a comma, it's safe to say that AI is already better than most people at writing. It's clean copy. It can be surprisingly persuasive. And sometimes, it's even informative. But there's frequently still something about it that just seems... off. Many people can tell quite quickly when they're reading AI-generated text. And beyond the style, the existence of AI generated text has all kinds of ramifications, from making it easier for students to cheat, to the rise of deceptive chatbots, to potentially degrading the experience on sites like Reddit. So how do you actually tell if a piece of writing was generated by AI? On this episode, we speak with Max Spero, the CEO of Pangram Labs, a company that built software to detect whether a piece of content was AI generated or not. We talk about the advanced techniques they use, the risk of false positives and false negatives, and what AI writing means in general for the future of the Internet.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-04-01/kling-ai-runway-vidu-the-ai-video-generators-set-to-replace-openai-s-sora?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">The AI Video Apps Gaining Ground After OpenAI Declared Sora Dead</a> <a href="https://www.bloomberg.com/news/articles/2026-04-01/credit-derivative-trading-shatters-records-on-iran-war-ai-fears?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">Credit Derivative Trading Shatters Records on Iran War, AI Fears</a>
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This Is How to Tell if Writing Was Made by AI

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/bd5bdaa1-16fd-4e1a-ac57-b41f01310614/transcript

The NYC Fiscal Crisis Of The 1970s Has Some Important Lessons For Today

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