What’s it like, the laborious job of “unwinding” hundreds of thousands of mind-numbingly complex derivatives contracts amassed over the years by the inimitable AIG Financial Products? Ask the Wall Street investment banks to whom they’ve been farming out the work — it’s so painful and time-consuming it feels like the old days, especially the “massively profitable” part. An anonymous derivatives trader tells the blog Zero Hedge:
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=144362