1. It is not just the toxic assets, it is the CDSes.
2. The Formula that killed Wall Street.
3. An explanation of just what was so pernicious about the Formula that killed Wall Street.
4. How the CDS revived the bucket shop, banned in 1907.
5. The author of the CDO creation software tells his story.
A lot of reading, but good reading.
Non-condensable Cynicism in Santa Fe
1 hour ago