Fool's gold : how unrestrained greed corrupted a dream, shattered global markets and unleashed a catastrophe

By G. Tett. 2009

352 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/b6e1f5e79a8e5ee1736f044db6298d2f9d8606a7

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

1. Andrew Leyshon
2. Roger Lee
3. G. Clark
4. J. Pollard
5. E. Helleiner
6. B. Ven
7. Ben R. Martin
8. William Davies

Citations in the corpus

• The 'Other' Imbalance and the Financial Crisis (2009, unknown): “   By 2007, the Federal Reserve Bank  of  New  York  calculated  that  SIVs  and  similar  vehicles  had  combined  assets  of  $2.2  trillion, more than the assets of hedge funds ($1.8 trillion), and more than half the total  assets of the five largest broker dealers ($4 trillion) (Tett 2009).”
• Rationalities of ignorance: on financial crisis and the ambivalence of neo-liberal epistemology (2012, background): “…well as in the warnings leading up to the crisis, has been to point out that too many financial traders were beginning to mistake their economic models for economic reality, allowing tidy representations of risk to stand in the way of messy situations of uncertainty (see Taleb, 2004; Tett, 2009).”
• Understanding the 2007–2008 Global Financial Crisis: Lessons for Scholars of International Political Economy (2011, background): “Both U.S. and European regulators also allowed banks to lower their reserves through the purchase of CDS contracts, despite the fact that many issuers of those contracts—such as AIG—were not subject to the same capital requirements as banks (Tett 2009, pp. 45–49, 60–64).”
• The Governance of Financial Regulation: Reform Lessons from the Recent Crisis (2010, unknown): “For example, a bank with a typical portfolio of $10 billion of commercial loans could reduce its capital reserves against these assets from about $800 million to under $200 million by purchasing CDSs for a small fee (Tett, 2009, p. 64).”
• Twenty challenges to innovation studies (2015, background): “Even sociologists and anthropologists have had more to say (e.g. Beunza & Stark, 2004; Mackenzie, 2006; Tett, 2009; Knorr Cetina & Preda, 2012).”
• The Dark Side of NY–LON: Financial Centres and the Global Financial Crisis (2013, unknown): “Prior to 2007, AIG FP was not only the most profitable part of AIG, but was also referred to as the ‘‘golden goose for the entire [Wall] Street’’ (National Commission, 2011), reflecting its key role as the conduit of CDO and CDS production and distribution in Europe.”
• The Credit Crisis and the Moral Responsibility of Professionals in Finance (2011, background): “Illustrative in this respect is the story that Gillian Tett (2009) tells of bankers at J.P. Morgan (before the merger with Chase) who were responsible for the development of the new financial instruments.”
• The remit of financial geography—before and after the crisis (2009, background): “So, rather than merely acting as providers of credit to productive capital, financial institutions have designed, produced and sold increasingly sophisticated products (see, for example, Tett 2009).”