Bride of Frankenstein's Balance Sheet feat. Rob Smith
Added 2021-04-14 23:35:58 +0000 UTCContrary to popular belief, we were not the people who broke the story about Lex Greensill and supply chain finance -- we just fell in love with it because it was the perfect intersection of all our interests (tech bullshit, obvious fraud, Australians, guys). However, someone who has been on this story since its inception is Financial Times journalist Rob Smith (@BondHack), and he's on the show today to review what's happened in this big ol' mess-er-idoo.
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Comments
Absolutely amazing episode which stands up to relistening! One additional thing for the similarities with the GFC is the presence of insurance in this situation. In the GFC you had AIG Financial Products backstopping almost the entire credit default swap market which was why they (AIG) were bailed out. Amazing how mixing insurance with securities businesses almost always ends in disaster. There must be a Marxian analysis of that somewhere... Great work.
William Bell
2022-06-05 15:26:37 +0000 UTC
