I was reading racketeering on Wikipedia last night and one thing that surprised me was "illegal taxis". Okay, what's that? https://en.wikipedia.org/wiki/Illegal

I was reading racketeering on Wikipedia last night and one thing that surprised me was "illegal taxis". Okay, what's that? https://en.wikipedia.org/wiki/Illegal_taxi_operation https://en.wikipedia.org/wiki/Illegal_taxi_operation Oh there's Uber mentioned at the bottom there, with no clear definition why it's not racketeering. Another interesting situation was when I was reading up on bank runs. Basically the default behavior of a bank is to have a bank run when people pull out of it. People will pull out when deposits are not insured by the gov or other third party entity. 2008 crash happened because entities that were not banks were behaving like banks (e.g. construction companies giving out loans) but they were not insured like banks. When banks are insured, they are very tightly regulated to the point they make little profit. Most of the time, when someone makes a ton of money in finance, they're not playing by the tight rules of banks but act like banks. Basically all the fintech stuff you see today.