000			01970nam a2200217Ia 4500
999			_c231967 _d231967
005			20220512160524.0
008			200208s9999 xx 000 0 und d
020			_a9781422177815
082			_a332.640973 DUN
100			_aDunbar, Nicholas
245		0	_aDevil's derivatives
260			_aBoston
260			_bHarvard busines review press
260			_c2011
300			_a291 p.
365			_b9000
365			_dRS
520			_aA compelling narrative on what went wrong with our financial system— and who’s to blame.From an award-winning journalist who has been covering the industry for more than a decade, 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 worldwide 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 giants 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.
650			_aDerivatives securities-United states
942			_cB _2ddc