This short video chronicles the rise of credit default swaps and the subsequent impact on the financial industry better than anything else I’ve seen.
Through financial engineering – not value added – the Wizards of Wall Street were able to create a financial black hole that ultimately – well watch the video. You’ll see.
What does this have to to with education? Our industry is going to suffer along with everyone else as we work our way out of this one.
Phil Sansom and Olly Williams are the filmmakers responsible for this bit of fun.