The Art of Tetman Callis

Some of the stories and poems may be inappropriate for persons under 16

The Art of Tetman Callis header image 2

Until they all fall down

December 1st, 2016 · No Comments

“The post-1972 take-off of financialization coincided with advances in computing capacity and the discovery of new mathematical techniques for valuing options and constructing derivatives. To begin with, these techniques were used mainly to reduce uncertainty and hedge currency risk. But before long it became clear that derivative swaps could be used to bamboozle tax authorities and shareholders. Financial engineering could convert one type of income stream into another, or an asset into income or the other way round-reducing or avoiding tax.” – Robin Blackburn, “The Subprime Crisis”

Tags: Economics · Robin Blackburn

0 responses so far ↓

  • There are no comments yet...Kick things off by filling out the form below.

Leave a Comment