The Devil's Derivatives charts the untold story of modern
financial innovation--how investment banks invented new financial
products, how investors across the world were wooed into buying
them, how regulators were seduced by the political rewards of easy
credit, and how speculators made a killing from the near-meltdown
of the financial system.
Author Nicholas Dunbar demystifies the revolution that briefly
gave finance the same intellectual respectability as theoretical
physics. He explains how bankers created a secret trillion-dollar
machine that delivered cheap mortgages to the masses and riches
beyond dreams to the financial innovators.
Fundamental to this saga is how "the people who hated to lose"
were persuaded to accept risk by "the people who loved to win." Why
did people come to trust and respect arcane financial tools? Who
were the bankers competing to assemble the basic components into
increasingly intricate machines? How did this process achieve its
own unstoppable momentum, ending in collapse, bailouts, and a
public outcry against the stars of finance?
Provocative and intriguing, The Devil's Derivatives sheds
much-needed light on the forces that fueled the most brutal
economic downturn since the Great Depression.
|
内容加载中，请稍后...
商品评论（0条）