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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (232403)12/23/2007 4:18:00 PM
From: Nadine Carroll  Respond to of 794223
 
It seems a permanent temptation of the financial sector to delude oneself that one has found a brilliant new way to "manage" risk when in fact all one has done is to find a new way to obfuscate it.

Since the story pays handsomely if you can sell it, it gets told over and over again. Eventually the clever tale goes bust, and some financial sector has to weather the fallout. Hopefully without too much collateral damage or moral hazard injected by Congress.


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