Matt Levine, Columnist

Overbooking and Cross-Selling

Also fake stock tips, crumbling quotes, bond indexing, Yale, Harvard, duration and convexity.

April 11, 2017 at 1:27 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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I blame the index funds.

Yesterday United Airlines provided a nice demonstration of the proposition that capitalism is built on a foundation of violence, when it summoned agents of the state to beat up a customer who insisted that United provide the service he had paid for. "Come and see the violence inherent in the system," he might have yelled, had the police not knocked him out. ("He fell," commented the police.)