Igor Delovski Board

[delovski]

FT - Lost through destructive creation

"During the past two decades, a wave of innovation has reshaped the way
markets work, in a manner that once seemed able to deliver huge benefits
for all concerned. But this innovation became so intense that it outran the
comprehension of most ordinary bankers – not to mention regulators."

[delovski]

reddit - Rolling Stone: The 12 responsible for the financial crisis

"Meet the bankers and brokers responsible for the financial crisis - and the
officials who let them get away with it."

[delovski]

NYT - The Market Mystique

"But the wizards were frauds, whether they knew it or not, and their magic
turned out to be no more than a collection of cheap stage tricks. Above all,
the key promise of securitization — that it would make the financial system
more robust by spreading risk more widely — turned out to be a lie. Banks
used securitization to increase their risk, not reduce it, and in the process
they made the economy more, not less, vulnerable to financial disruption."

[Ike]

Forbes - Did Goldman Goose Oil?

"How Goldman Sachs was at the center of the oil trading fiasco that
bankrupted pipeline giant Semgroup."

[delovski]

nymag.com - My Manhattan Project

"Ihave been called the devil by strangers and “the Facilitator” by friends. It’s
not uncommon for people, when I tell them what I used to do, to ask if I feel
guilty. I do, somewhat, and it nags at me. When I put it out of mind, it inevi-
tably resurfaces, like a shipwreck at low tide. It’s been eight years since I co-
mpiled a program, but the last one lived on, becoming the industry standard
that seeded itself into every investment bank in the world."

[delovski]

Hydle - An Easily Understandable Explanation of Derivative Markets

"Heidi is the proprietor of a bar in Detroit . She realizes that virtually all of
her customers are unemployed alcoholics and, as such, can no longer af-
ford to patronize her bar. To solve this problem, she comes up with new
marketing plan that allows her customers to drink now, but pay later."

[delovski]

AlterNet - The Great American Bank Robbery

"How did the big banks nearly take down the entire economy and still con-
tinue to profit? Nobel Prize-winning economist Joseph Stiglitz explains."

[Ike]

reddit- "The Story of the CDO Market Meltdown: An Empirical
Analysis"

Thesis by 24 year-old Harvard student "everyone is talking about

"... and bring a new appreciation for the true purpose of an investment
bank - providing necessary financial services, not creating unnecessary
products to bolster their own profits.” Ah, the innocence of youth."

[delovski]

marketwatch.com - American investors: Predictably stupid losers

"Yes, I am mad as hell again. Wall Street's soulless, immoral, greedy
bankers really believe that the vast majority of America's 95 million
investors are not only "predictably irrational" but "stupid," as J.P. Mor-
gan Chase's chief investment officer put it in Forbes a while back."