updated: theory of everything
"all the way down"
This post from the financial times both evokes an earlier post I’d written and pretty uniquely captures the zeitgeist of our times…
It’s good to see that the cast of usual suspects haven’t gone gun shy from losing billions and are still out there innovating.
For those looking to answer the question:
Q: How do we improve upon layers of opaque, illiquid and unregulated financial instruments?
The good people who brought us the “credit crisis” have engineered an answer to this puzzle:
A: just add another layer!
Categories: dereferenced, our managed markets
