Tag Archive for Derivatives

How the Masters of the Financial Universe Use Derivatives for Fun and Profit – Shah Gilani – Money Morning

Jon Stewart just did a very funny piece on “The Daily Show” about a new derivatives dust-up that Bloomberg News broke.

Earlier this year, a big Wall Street firm bought a credit default swap on debt that a private company owed to a third party. So the firm was set up to make money if that company missed any payments.