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Drawing on Jaime Diamond's exclusive access to CEO JPMorgan, and a team closely linked to a banker called the "Morgan Mafia" on Wall Street - and including Timothy Geithner, the Treasurer "In-depth interviews with several other major players within the group," Gillian Tett spoke in detail, how the bold ideas of the Morgan team on the new financial alchemy helped trigger the banking revolution and how crazy this revolution is. Out of control, in-depth reporting and lively narratives keep readers behind the scenes, the inner sanctum of elite finance, and the secret zone that later became known as the "shadow bank" world. This story began in 1994 with a nervous Morgan brainstorming session next to Pokhara. A swimming pool in Dundee, the team created a dazzling new idea for this kind of fancy financial products called credit derivatives, which will stimulate the banking world and make Morgan become the pinnacle of Turbo Derivatives trading. , and promote the extraordinary prosperity of the banking industry, it seems that the banking industry has been renewed risk limits China liberated the banking industry, but when the Morgan team's derivatives dreams conflicted with the real estate market boom, through arrogance, delusions and pure greed - Citigroup, UBS, Deutsche Bank and Merrill Lynch itself The risk mixture that is sold away from other people) is followed by a disaster. Held contact with Dimon and JPMorgan Chase leaders. They are so ingenious to guide their banks to get rid of others' crazy excesses, not only in how they design Their bank fled from the incredible story of the massacre, but also because it had discovered and noticed the terrible risk of collapse for the larger banking community, regulators and rating agencies.This stupid gold is a fiery splendor and intentional The story of blind ambitions is a rare journey in the deep and fiercely competitive advanced financial world, and it is a crucial contribution to understanding how the worst economic crisis since the Great Depression occurred.
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Orignal From: Fool's Gold: How a small tribe of J.P. Morgan's bold dreams was corrupted by Wall Street and released a disaster
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