Logo
    Search

    Podcast Summary

    • Historical context of federal funding of local law enforcementThe recent calls to defund the police stem from the belief that local police budgets, which are largely spent on personnel, do not effectively keep the public safe. This belief is rooted in the historical context of federal funding of local law enforcement, which has left the balance of power and money unchecked since the 1930s.

      The deaths of George Floyd, Breonna Taylor, and Ahmad Aubrey, among others, have sparked a national conversation about police authority and accountability. The issue of police brutality is not new, but the recent protests have led to a clear policy demand for defunding the police. This call to action stems from the belief that local police budgets, which are largely spent on personnel, do not effectively keep the public safe. The federal government's role in shaping local policing through funding dates back to the 1930s, and this intervention has left the balance of power and money unchecked. The historical context of federal funding of local law enforcement is an important context for understanding the current calls to defund the police.

    • The professionalization of police departments in the early 20th century led to racial bias and reinforced social order.Early 20th century police professionalization perpetuated racial biases, and during the civil rights movement, conservatives used crime as a political tool to regain control, leading to aggressive policing in black communities and relaxed privacy laws.

      The professionalization of police departments in the early 20th century, while intended to improve local policing, ultimately codified racial norms and reinforced social order rather than protecting all people equally. In the North, white ethnics' criminality was seen as a result of poor social conditions, while black vice was conflated with their character. During the civil rights movement, conservatives regained political agenda control by reframing the issue as one of law and order and crime, leading to the War on Crime and the passing of the Crime Control and Safe Streets Act of 1968, which funneled massive amounts of money into local law enforcement and led to aggressive policing, especially in black urban communities. This resulted in overturning Supreme Court decisions and relaxing prohibitions on wiretapping and electronic surveillance.

    • Expansion of no-knock warrants and war on drugsThe war on drugs and increased funding from the federal government facilitated the expansion of no-knock warrants and mass arrests, disproportionately affecting black and brown communities, and leading to the militarization of policing.

      The expansion of no-knock warrants and the war on drugs in the late 1900s were facilitated by increased funding from the federal government to state and local law enforcement agencies. This expansion was not due to a single innovation but rather a cumulative effect of changes across many jurisdictions. Reagan's war on drugs and Clinton's crime bill significantly increased funding for law enforcement, leading to mass arrests and prison sentences. These bills would not have been effective without the existing capacity of law enforcement institutions. Additionally, federal programs like the 1033 program provided military equipment to local police departments, contributing to the militarization of policing. These policies disproportionately affected black and brown communities, leading to increased policing and mandatory minimum sentencing policies. Despite public support for law and order, support for these policies has waned over time.

    • Federal funding for local law enforcement and military equipmentFrom crime control focus to terrorism defense, federal funding for local police departments has fluctuated, with significant increases after 9/11 and concerns over military equipment use in the 2010s.

      The relationship between federal funding for local law enforcement and the use of military equipment has evolved significantly over the past few decades. Initially, federal funding for local police departments increased during the Reagan and Clinton administrations due to a focus on crime control. However, support for these programs waned in the early 2000s due to declining crime rates and concerns over racial profiling. The September 11 attacks changed the narrative, leading to a renewed focus on local law enforcement as the first line of defense against terrorism and a significant increase in funding. The use of military equipment by local police became a concern following the Ferguson protests in 2014, leading to increased oversight under the Obama administration. However, these restrictions were rescinded under the Trump administration, and today, the federal government continues to contribute billions of dollars to local law enforcement, with some grants providing essential resources and others having non-budgetary costs.

    • Federal Funding for Law Enforcement: Balancing Costs and Community HarmFederal funding for law enforcement can incentivize intrusive practices, bypass accountability, and overlook harm to individuals and communities. The government should prioritize community input, public safety, and fairness in its role shaping the future of policing.

      The focus on funding for law enforcement programs may overlook the potential for these funds to incentivize intrusive and harmful policing practices. The government's emphasis on the costs and benefits of these programs often neglects the harm caused to individuals and communities through additional surveillance, military equipment, and arrests. Furthermore, these programs can bypass traditional checks on police accountability by providing local departments with outside funding, making it essential for the federal government to consider whether it's getting a good return on its investment and how it can better support community-led efforts to reimagine public safety. The recent protests against police brutality underscore the importance of this issue, as the expansion of police power in the aftermath of past movements for change is a concerning parallel. Ultimately, the federal government plays a significant role in shaping the future of policing, and it's crucial to ensure that this role prioritizes community input, public safety, and fairness.

    • History shows police funding often increases after instances of violence and racial injusticeDespite calls for defunding the police, history suggests that funding may continue to increase, leading to procedural improvements but not transformative change for subjugated communities.

      Despite calls for defunding the police following instances of police violence and racial injustice, history shows that funding for law enforcement often increases in response. For example, during the Rodney King riots in the 1990s and more recent protests in cities like Ferguson, Baltimore, and Chicago, many cities responded by increasing police funding and manpower. Scholar Vesla Weaver argues that this pattern may continue, leading to procedural improvements but not the transformative change needed for subjugated communities. Rachel Harmon, a law professor, also emphasized the need to consider the historical context and potential consequences of defunding the police. Ultimately, the outcome of the current moment remains uncertain, and it's essential to closely watch the developments and their potential impact on policing and racial justice.

    Recent Episodes from Behind the Money

    Best Of: BlackRock goes all in on infrastructure

    Best Of: BlackRock goes all in on infrastructure

    This week, we’re revisiting an episode from earlier this year. BlackRock chief executive Larry Fink has been on the hunt for the money manager’s next “transformational” deal. In January, Fink revealed that he had finally found it with the acquisition of a private capital firm, Global Infrastructure Partners. The FT’s US financial editor Brooke Masters and US private capital correspondent Antoine Gara explain why BlackRock wanted GIP, and how this deal sets the agenda for Wall Street this year. Clips from CNBC 


    Plus, send us a question! Behind the Money is teaming up with the FT’s Moral Money newsletter to answer your questions about what “responsible” business and finance really looks like in the 21st century.  

    That means topics like sustainability, ESG, diversity and inclusion and clean energy investment. These have become hot-button issues that have recently faced a huge backlash. 

    Tell us, what are the questions you have? To get in touch, record a voice message here: sayhi.chat/0humz  

    We might read out, or play the question from your voicemail with your name, on the show.

    - - - - - - - - - - - - - - - - - - - - - - - - - - 

    For further reading:

    Infrastructure: from investment backwater to a $1tn asset class

    How the $12.5bn BlackRock-GIP deal is set to shake up investment management

    How Adebayo Ogunlesi’s contrarian bet led to $12.5bn BlackRock tie-up 

    - - - - - - - - - - - - - - - - - - - - - - - - - - 

    On X, follow Antoine Gara (@AntoineGara), Brooke Masters (@brookeamasters) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. 


    Read a transcript of this episode on FT.com



    Hosted on Acast. See acast.com/privacy for more information.


    Behind the Money
    enJuly 03, 2024

    Will Exxon make or break Guyana?

    Will Exxon make or break Guyana?

    Exxon Mobil struck black gold in 2015 when it discovered a massive oil reserve off the coast of Guyana in South America. It’s poised to make Guyana the fourth-largest offshore oil developer in the world, and it's already jump-started a transformation within the developing economy. But will this oil bonanza benefit Guyana’s people? The FT’s US energy editor Jamie Smyth travels to Guyana’s capital to understand Exxon’s impact first-hand. 


    Clip from NBC News

    - - - - - - - - - - - - - - - - - - - - - - - - - - 

    For further reading:

    The giant Exxon project that could create the world’s last petrostate

    Oil-rich Guyana tries to tap another source of cash: carbon credits

    Exxon’s exit marks reversal of fortune for Equatorial Guinea

    - - - - - - - - - - - - - - - - - - - - - - - - - - 

    On X, follow Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.


    Read a transcript of this episode on FT.com



    Hosted on Acast. See acast.com/privacy for more information.


    Behind the Money
    enJune 26, 2024

    Bankers vs the Fed: ‘Endgame’

    Bankers vs the Fed: ‘Endgame’

    Banks in the US are locked in a bitter fight with regulators. It’s all about a proposed set of rules with an unusual name, Basel III Endgame. Regulators say the rules will help avoid future banking crises. Banks say they’re overkill and could hurt everyday Americans. The FT’s US banking editor Joshua Franklin explains how the industry is pushing back.


    Clips from Bloomberg, CNBC

    - - - - - - - - - - - - - - - - - - - - - - - - - - 

    For further reading:

    The US pushback against ‘Basel Endgame’

    The bank argument on the Basel III endgame is bunk

    EU to delay Basel bank trading reforms as US revisits plans

    - - - - - - - - - - - - - - - - - - - - - - - - - - 

    On X, follow Joshua Franklin (@FTJFranklin) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. 


    Read a transcript of this episode on FT.com



    Hosted on Acast. See acast.com/privacy for more information.


    Behind the Money
    enJune 19, 2024

    The wrinkle in Shein’s IPO plans

    The wrinkle in Shein’s IPO plans

    In November, online fast-fashion giant Shein filed paperwork to go public in the US. Since then the process has not moved forward at all — and it looks like Shein’s ties to Beijing could be to blame. The FT’s China tech correspondent Eleanor Olcott explains how Shein has tried to distance itself from China to appease US regulators, and where it might go public instead. 


    Clips from Reuters, Bloomberg, Yahoo Finance

    - - - - - - - - - - - - - - - - - - - - - - - - - - 

    For further reading:

    Shein switches focus to London after New York IPO stalls

    Shein’s London IPO flirtation

    Shein profits double to over $2bn ahead of planned listing

    Fund managers give cool reception to prospect of Shein London IPO

    - - - - - - - - - - - - - - - - - - - - - - - - - - 

    On X, follow Eleanor Olcott (@EleanorOlcott) and Saffeya Ahmed (@saffeya_ahmed).


    Read a transcript of this episode on FT.com



    Hosted on Acast. See acast.com/privacy for more information.


    Behind the Money
    enJune 12, 2024

    Can anyone afford an NBA team?

    Can anyone afford an NBA team?

    The 2024 NBA Playoffs are in full swing, but eyes are still on a team that was knocked out last week. The Minnesota Timberwolves are caught up in an ownership dispute that’s gone south pretty fast, after two prospective buyers attempted to finance their purchase of the team in an unconventional way. The FT’s US sports business correspondent Sara Germano breaks down how the deal came together, fell apart, and the can of worms it’s since opened about owning US sports teams. 


    Clips from Bleacher Report, FOX 9 Minneapolis-St. Paul, KARE 11, House of Highlights, The Dane Moore NBA Podcast

    - - - - - - - - - - - - - - - - - - - - - - - - - - 

    For further reading:

    The off-the-court fight for one of the NBA’s hottest teams

    Private equity gears up for potential National Football League investments

    Michael Jordan agrees to sell majority stake in NBA’s Charlotte Hornets

    Mark Cuban’s Mavericks bet

    - - - - - - - - - - - - - - - - - - - - - - - - - - 


    On X, follow Sara Germano (@germanotes) and Saffeya Ahmed (@saffeya_ahmed).


    Read a transcript of this episode on FT.com



    Hosted on Acast. See acast.com/privacy for more information.


    Behind the Money
    enJune 05, 2024

    Best Of: Inside a hedge fund disaster

    Best Of: Inside a hedge fund disaster

    This week, we’re revisiting an episode from last November, about a Wall Street saga that lost shareholders more than $10bn. In 2007, when Dan Och took his hedge fund public, he was making a bet that his company would stand the test of time. More than 15 years, a bribery scandal, and a feud with his protégé later, the FT’s Ortenca Aliaj and Sujeet Indap explain how things did not work out as planned. 

    - - - - - - - - - - - - - - - - - - - - - - - - - - 

    For further reading:

    Sculptor Capital: grey areas cause grey hairs in messy bidding war

    Fight over Sculptor hedge fund sale entwined in Daniel Och’s tax affairs

    Sale of Sculptor Capital on cusp of approval after hedge fund brawl

    - - - - - - - - - - - - - - - - - - - - - - - - - - 

    On X, follow Ortenca Aliaj (@OrtencaAl), Sujeet Indap (@sindap) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. 


    Read a transcript of this episode on FT.com



    Hosted on Acast. See acast.com/privacy for more information.


    Behind the Money
    enMay 29, 2024

    Why auditors are missing red flags

    Why auditors are missing red flags

    Episode description: 


    Audit firms are supposed to put a company’s books under the microscope. But these days, regulators are finding an increasing number of flaws in the audits that they inspect. The FT’s US accounting editor Stephen Foley explains what’s going wrong, and how regulators around the world plan to fix these shortcomings. 


    Clips from CNN, NBC News 


    - - - - - - - - - - - - - - - - - - - - - - - - - - 


    For further reading:

    Why don’t auditors find fraud?

    Auditors failed to raise alarm before 75% of UK corporate collapses

    Big Four firms rethink governance after year of mis-steps and scandals 


    - - - - - - - - - - - - - - - - - - - - - - - - - - 


    On X, follow Stephen Foley (@stephenfoley) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.


    Read a transcript of this episode on FT.com



    Hosted on Acast. See acast.com/privacy for more information.


    Behind the Money
    enMay 22, 2024

    Introducing Untold: Power for Sale

    Introducing Untold: Power for Sale

    Introducing Power for Sale, a new season of Untold from the Financial Times. In Untold: Power for Sale, host Valentina Pop and a team of FT correspondents from all over Europe investigate what happened in the Qatargate scandal, where EU lawmakers were accused of accepting payments from Qatar to whitewash its image.


    Subscribe and listen on: Apple Podcasts, Spotify or wherever you get your podcasts.



    Hosted on Acast. See acast.com/privacy for more information.


    Behind the Money
    enMay 20, 2024

    Dispatch from Omaha: Berkshire after Warren Buffett

    Dispatch from Omaha: Berkshire after Warren Buffett

    Late last year, Warren Buffett’s close business confidant Charlie Munger died at 99. Munger’s death and Buffett’s upcoming 94th birthday have renewed questions about the future of Berkshire Hathaway. What will the empire he’s built look like after he’s no longer at the helm? 


    Behind the Money and the FT’s senior corporate finance correspondent Eric Platt travel to Omaha, Nebraska for Berkshire Hathaway’s annual shareholder meeting, to get a better sense of how the next generation will lead America’s “last great” conglomerate. 

     

    Clips from CNBC


    - - - - - - - - - - - - - - - - - - - - - - - - - - 


    For further reading:


    Berkshire after Buffett: is Greg Abel up to the top job?

    Berkshire after Buffett: prized energy business faces upheaval

    Berkshire after Buffett: the risk ‘genius’ pulling the insurance strings

    Berkshire after Buffett: can any stockpicker follow the Oracle?


    - - - - - - - - - - - - - - - - - - - - - - - - - - 


    On X, follow Eric Platt (@ericgplatt) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.


    Read a transcript of this episode on FT.com



    Hosted on Acast. See acast.com/privacy for more information.


    Behind the Money
    enMay 15, 2024

    Coming soon: China, the new tech superpower

    Coming soon: China, the new tech superpower

    In a new season of Tech Tonic, longtime FT China reporter Jame Kynge travels around the world to see how China is pushing towards tech supremacy. Will China be able to get an edge in crucial technological areas? What does China’s attempt to leapfrog the west look like on the ground? A 6-part series looking at China’s tech industry.


    Presented by James Kynge. Edwin Lane is the senior producer. The producer is Josh Gabert-Doyon. Executive producer is Manuela Saragosa. Sound design by Breen Turner and Samantha Giovinco, with original music from Metaphor Music. The FT’s head of audio is Cheryl Brumley.



    Hosted on Acast. See acast.com/privacy for more information.


    Behind the Money
    enMay 10, 2024

    Related Episodes

    Sharif El-Mekki on the Power of Black Educators

    Sharif El-Mekki on the Power of Black Educators

    Sharif El-Mekki is the founder and CEO of the Center for Black Educator Development, which is focused on revolutionizing education by dramatically increasing the number of Black educators. “People are naive enough to think that once you enter a school, racial bias disappears,” says El-Mekki. “If a Black child has a Black teacher, they have a higher sense of belonging, they’re less likely to be suspended or expelled. They have more access to rigorous courses, higher attendance, better grades.”

    El-Mekki sees the work as a form of activism. “Educational justice and racial justice are connected and cannot be separated,” he stresses. Join us to learn more about a truly different approach to equity in the classroom and beyond.

    This episode is part of Add Passion and Stir’s ongoing series Rebuilding which connects with leaders from across media, restaurants, education, government, and beyond to learn they’re reimagining and redesigning their industries to make sure everyone feels a sense of belonging.

    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    View From Tehran: Piers vs Mohammad Marandi

    View From Tehran: Piers vs Mohammad Marandi

    The general view in the West is that Iran’s attack on Israel was an abject failure.

    Whether or not it was a genuine attempt to wound the Israeli state or just a billion-dollar fireworks display, it didn’t work.

    Ninety-nine per cent of the drones and missiles were shot down by Israel’s allies and its Iron Dome.

    Israel looks tough again. Iran looks weak.


    With a view from Tehran, Professor Mohammad Marandi joins Piers to give his perspective.


    That's followed by a debate with the Current Deputy Mayor for Jerusalem and Special Envoy for the Foreign Ministry for Israel, Fleur Hassan-Nahoum.

    Founder and Leader of the Palestinian National Initiative, Mustafa Barghouti 

    And for a US perspective, commentator and podcast host, Francesca Fiorentini.


    YouTube: @PiersMorganUncensored

    X: @PiersUncensored

    TikTok: @piersmorganuncensored

    Insta: @piersmorganuncensored




    Hosted on Acast. See acast.com/privacy for more information.


    Ep. 514 - Was America Built On "Stolen Land"? It's Not Nearly That Simple

    Ep. 514 - Was America Built On "Stolen Land"? It's Not Nearly That Simple

    Today on the Matt Walsh Show, the Left now says Mount Rushmore has to go because it was carved on stolen land. But the reality isn’t nearly as simple as that. In fact, the whole narrative of white settlers “stealing land” isn’t that simple. We’ll try to inject some historical context into this discussion today. Also Five Headlines including the bloodbath in our cities over the weekend. Where is Black Lives Matter? And an education council meeting in New York descends into leftist insanity.


    If you like The Matt Walsh Show, become a member TODAY with promo code: WALSH and enjoy the exclusive benefits for 10% off at https://www.dailywire.com/walsh

    Learn more about your ad choices. Visit podcastchoices.com/adchoices