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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.
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