This episode provides an extensive investigation into financial commentator Steve Eisman’s use of the term “Market Mafia,” concluding that the phrase is a metaphor for concentrated, informal power rather than evidence of a formal organization controlling markets. This podcast confirms there is no public list of individuals serving as "sector mafia chiefs," but it extensively maps which institutional roles and actors (such as large passive asset managers, sell-side analysts, and primary dealers) hold outsized influence over valuations in each of the 11 major industry sectors. The episode translates Eisman's evocative language into a practical understanding of how real market power is concentrated in modern finance through various institutional mechanisms.