Janet Tavakoli: Life And Death On Wall Street

History shows systemic corruption can be overcome
Sunday, October 30, 2016, 5:06 PM

Financial markets and derivatives authority Janet Tavakoli returns to the podcast to discuss a number of the themes contained in her new book Decisions: Life And Death On Wall Street.

She paints a particularly informative timeline of the greed and rot that has come to dominate the modern financial system, and how its tentacles have fully penetrated and subjugated the halls of power in Washington DC. » Read more

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Image by Ali Smiles :), Flickr Creative Commons

Daily Digest 5/5 - Graft In Spain, Should We Live In Hope?

Sunday, May 5, 2013, 12:46 PM
  • Interview with Dr. Paul Craig Roberts
  • Choco pies: The smuggled treats of North Korea
  • Is The Fed Blowing Bubbles?
  • Small-Town Mayor’s Millions as Exhibit A on Graft in Spain
  • The Last Refuge From Scandal? Professorships
  • Should we live in hope?

Janet Tavakoli: Understanding Derivatives and Their Risks

Abuse is the problem
Saturday, September 15, 2012, 11:48 AM

Global financial markets are awash in hundreds of trillions of dollars worth of derivatives. By some estimates, the total amount exceeds one quadrillion.

Derivatives played a central role in the 2008 credit crisis, as they had a brutal multiplying effect on the magnitude of the carnage. As a bad asset was written down, oftentimes there were derivative contracts written against it that resulted in total losses 10x greater than the initial write-down.

But what exactly are derivatives? How do they work?

And have we learned to treat these "weapons of mass financial destruction" (as Warren Buffet colorfully coined them) any more carefully in the aftermath of the global financial crisis? » Read more