Fresh Air from WHYY, March 25, 2009
Years before the current economic crisis, law professor and former Wall Street trader Frank Partnoy was warning about the dangers of risky financial practices.Senator Byron Dorgan (D-ND) saw it coming (ten years ago!):
In his 1997 book FIASCO: Blood in the Water on Wall Street, Partnoy detailed how derivatives ? financial instruments whose value is determined by another security ? were being used and abused by big financial firms. ...
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