September 1999
Money Goes Downmarket
In an era of information abundance, the road to financial ruin has become a superhighway.
By Daniel Akst
Once upon a time, rich people often bought even small things on credit, lest they sully themselves handling filthy lucre. They employed professional investment advisers to manage their money, which might be deployed in stocks, bonds or real estate. Should the need for a loan arise, one's personal banker arranged it. (Discreetly, of course.)
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