Thursday, June 18, 2009

Fool's Gold

Fool's Gold: How the Bold Dream of a Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe. Author Gillian Tett follows the staff of J.P. Morgan as they developed new financial instruments (various kinds of derivatives) to better manage risk - and which ended up being used in very risky ways that significantly contributed to the current financial meltdown.

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