dailyreckoning.com.au — What is a derivative? It's a financial instrument roughly analogous to placing bets with a bookie. The vast majority of which are not recorded on any balance sheet. These wildly speculative bets are at the heart of the ongoing global economic crisis from which there is no plausible way out as the sums involved are simply to large.
Sep 26, 2008 View in Crawl 4
ecolonsmakSep 26, 2008Submitter
I think this is one of the best articles I have found so far that ties together all the different elements that have contributed to the mess we are in. The article is well written without the unnecessary inflammatory language found in other descriptions and is easy for the average reader to make sense of the complex and opaque transactions involved in this crazy ponzi scheme.