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Archive of entries posted on 16th October 2013

The product machine that is Wall Street. Caveat emptor.

Wall Street, like all businesses, is a product machine. Sometimes the new products sell. Sometimes they don’t. Sometimes they deliver what they promise — nice rewards to the buyers. Mostly, they don’t. The last 20 years has seen huge creativity on Wall Street and huge failures. Credit default swaps and securitization of bad housing loans […]