The facts just quoted come from an article entitled "Turning The Economy Into A Casino," authored by David B. Matias and Sophia V. Burress. This article is found in a fascinating book called The Intellectual Origins of the Global Financial Crisis, edited by Roger Berkowitz and Taun N. Toay. I have mentioned this book before, in an earlier posting, quoting from a review. Now, I have had the opportunity to read the actual book.
The Intellectual Origins of the Global Financial Crisis is a book worth reading: Hannah Arendt does economic analysis. That is pretty much the idea that has motivated the book. I recommend it.
Oh, and I don't think that the so-called "fund industry" is any kind of real "industry" at all. Names seem to refer to real things, but George Orwell wasn't the first to note that names can be misleading - and intentionally so. Think about that "Defense Department" we keep hearing so much about!