322 books
—
90 voters
Wall Street
New World Order, Decline of the West, World Democracy, Wall Street, Marxism, the Global Village, and Internationalism
Corruption, Plutocracy, Oligarchy, Kleptocracy, Corporatocracy — The Problem (nonfiction)
711 books
—
185 voters
“
A credit default swap was confusing mainly because it wasn’t really a swap at all. It was an insurance policy, typically on a corporate bond, with semiannual premium payments and a fixed term. For instance, you might pay $200,000 a year to buy a ten-year credit default swap on $100 million in General Electric bonds. The most you could lose was $2 million: $200,000 a year for ten years. The most you could make was $100 million, if General Electric defaulted on its debt any time in the next ten ye
...more
”
― The Big Short: Inside the Doomsday Machine
― The Big Short: Inside the Doomsday Machine
“
The CDO was, in effect, a credit laundering service for the residents of Lower Middle Class America. For Wall Street it was a machine that turned lead into gold.
”
― The Big Short: Inside the Doomsday Machine
― The Big Short: Inside the Doomsday Machine
Books for Young Professionals who want more.
Books that can inspire discussion for working mill…more
2 members,
last active 10 years ago
2 members,
last active 12 years ago
24 members,
last active 4 years ago
34 members,
last active 11 years ago















































