Dec 30, 2008

Trading in our futures

Today is Day Two in the Washington Post's three-part series called "What Went Wrong?" about the smarty pants who combined their faith in capitalism, their faculty in mathematics and their facility with computers to fashion the highly complex and highly leveraged derivatives market that helped implode the global financial system.

The story begins in the late 1980s at AIG with the geek squad that formed its Financial Products division... We all know how it ends.

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