When you bite down into that hamburger, do you know what's in it? Well, the new mystery meat is the massive financial black box (what's inside is anyone's guess!) world of derivatives and credit default swaps.
Finally, the New York Times writes a detailed article, What Created This Monster, and exposes even world leading economists do not know what derivatives are or in most cases, the details of how they work.
These products are virtually hidden from investors, analysts and regulators, even though they have emerged as one of Wall Street’s most outsized profit engines. They don’t trade openly on public exchanges, and financial services firms disclose few details about them
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