Author: Barbara Garson

Interested in "bad guys" – but not bad systems

While researching a book on The Great Recession (or whatever we wind up calling this economic downturn) I noticed that I couldn’t find any unemployed bankers who had actually handled the “toxic assets” that supposedly caused the crisis. I started to look for them systematically and eventually discovered that they were still employed. Furthermore, their activity of creating and trading collateralized debt obligations and the SWAPS that insured them was, in fact, booming.