WEBVTT - Single Best Idea With Tom Keene: Gary Gensler

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>Single best Idea and it is a conversation of the

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<v Speaker 2>day for Global Wall Street. Except Gary Gonsler is not

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<v Speaker 2>a conversation of the day. He's a conversation of the month.

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<v Speaker 2>And so here is the former chairman of the SEC

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<v Speaker 2>now at MIT and a wonderful podcast with the Laureate

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<v Speaker 2>Simon Johnson. Gary Gonsler on the topic at hand, private credit.

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<v Speaker 1>Look in terms of private credit, I think that it's

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<v Speaker 1>there's some risks there, but it's a small part of

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<v Speaker 1>our overall capital markets down for US capital markets what

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<v Speaker 1>one hundred and fifty trillion or so, and this is

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<v Speaker 1>a two trillion dollar corner. But there are some risk

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<v Speaker 1>and I'm sure we'll get into it, particularly because they've

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<v Speaker 1>offered to retail investors, high net worth individuals what what's

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<v Speaker 1>called the wealth channel to be part of this, and

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<v Speaker 1>the wealth channel is turning on it. They're saying, we

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<v Speaker 1>don't want to we don't want to be in here

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<v Speaker 1>as much can we redeem out? And that's a little hard.

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<v Speaker 2>Gary gunslu there of m I T. Sloan. We continued

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<v Speaker 2>our conversation. Too many things to talk about, and yes,

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<v Speaker 2>I did, I asked him in jest. Is he letting

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<v Speaker 2>his students in m T use artificial intelligence? Professor Gensler

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<v Speaker 2>on this new thing AI.

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<v Speaker 1>Oh, it's everywhere, Tom. The students are using it. And

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<v Speaker 1>I don't use it to grade students. But I do

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<v Speaker 1>use artificial intelligence to do research, to challenge, to to

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<v Speaker 1>to uh so, so I don't think you can say

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<v Speaker 1>in a classroom, oh oh, we're going to ban it.

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<v Speaker 2>No.

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<v Speaker 1>This is the calculator came along when I was a kid.

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<v Speaker 1>We use it. The Internet came along, we use Here's

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<v Speaker 1>the thing, students, if you're listening, you have to command it.

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<v Speaker 1>You have to challenge it. Don't let AI command you.

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<v Speaker 1>You have to stay ahead of that. I call it

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<v Speaker 1>the AI bear.

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<v Speaker 2>The former Chairman of the Securities and Exchange Commission, Gary Gensler,

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<v Speaker 2>We're on a podcast on Apple, on Spotify, on YouTube podcasts.

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<v Speaker 2>It's single best idea.