1 min read

Financial Innovation in a Sentence

Article on the good and the bad of financial innovation — the cliffs notes version is the one sentence below:

Some of these ideas [CDS’s, CDO,s, SIV’s, etc], as it happens, were reasonable ones, within limits. But limits aren’t something that Wall Street knows much about: in recent years, it has shown an uncanny knack for taking reasonable ideas to unreasonable extremes.

via The pros and cons of financial innovation : The New Yorker.