Hedging the End of Finance
May 14, 2008 in capitalizing, counting, economizing, performing
Tags: banking, banks, capitalism, cdo, cdos, credit, crisis, crunch, debt, derivatives, finance, insurance, liquidity, lrb, mackenzie, money, mortgage, portfolio, rating, securities, sociology, subprime
This recent LRB piece by Donald MacKenzie is really worthwhile reading. Apart from providing a nicely pedagogical explanation of what credit derivatives and asset-backed securities do, it exposes some most curious features of contemporary financial capitalism: it’s about how serious financiers might be about the end of finance.