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roachboy · 03-17-2009, 10:49 AM

http://www.ft.com/cms/s/0/0d55351a-0...077b07658.html

have a look at this from the future of capitalism series in the financial times.
it explains quite a bit about the rise of derivatives, what they were, how they were possible, what they meant.

the article "looting" from 1993, which i referenced in the thread in economic (based on an ny times summary that appeared last week) is more detailed in it;s analysis, but shows very similar types of thinking, bureaucratic rationalization and consequences coming out of the savings & loan farce of the late 1980s...

i had posted something earlier about ace's revisionist pseudo-history of aig and the bush administration's actions with respect to it--but i'm bored by that. so this instead.

03-17-2009, 10:49 AM	#380 (permalink)
roachboy Super Moderator Location: essex ma	http://www.ft.com/cms/s/0/0d55351a-0...077b07658.html have a look at this from the future of capitalism series in the financial times. it explains quite a bit about the rise of derivatives, what they were, how they were possible, what they meant. the article "looting" from 1993, which i referenced in the thread in economic (based on an ny times summary that appeared last week) is more detailed in it;s analysis, but shows very similar types of thinking, bureaucratic rationalization and consequences coming out of the savings & loan farce of the late 1980s... i had posted something earlier about ace's revisionist pseudo-history of aig and the bush administration's actions with respect to it--but i'm bored by that. so this instead. __________________ a gramophone its corrugated trumpet silver handle spinning dog. such faithfulness it hear it make you sick. -kamau brathwaite Last edited by roachboy; 03-17-2009 at 11:00 AM..