Economics, Econometrics and Finance
4 years ago

Financial industry's complex products triggered global crisis: Insider reveals shocking details.

HAL (Le Centre pour la Communication Scientifique Directe)
Codes of Finance. Engineering Derivatives in a Global Bank
Vincent Lépinay

Paper Summary

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The article discusses how complex financial products like credit default swaps led to the 2008 financial crisis. The author, a former bank employee, gives a firsthand account of how these products were created, marketed, and managed, causing chaos both inside and outside the bank.