Recommended Listening: Derivative Dangers

If you want to know how long ago the seeds of the current financial crisis were sown, definitely listen to this episode of Fresh Air.  Terry Gross’ interview of Frank Partnoy reveals not just how derivatives came to be unregulated, but who some of the players were in making it possible.  What may disturb you is how many of the people who made the current situation possible are playing key roles in trying to fix it.  Partnoy also authored F.I.A.S.C.O.: Blood in the Water on Wall Street.  He first wrote this book 12 years ago–before the collapse of the internet and telecom bubbles, before Enron, and the subprime mortgage meltdown that triggered our latest financial calamity.

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