sometimes quite frankly you have the impression the financial implosion happened because 18 of evil marcion's have invaded the world and taken over the system with some kind of plot to bring down the financial system and that this idea they were actually human beings inside the financial system taking decisions both good and bad and like any human beings had complicated motives wasn't really about. so, i picked up on the jpmorgan group and essentially the book divides into three parts. the first part is called innovation because i try to tell the story how this group developed this set of ideas starting in the early 1990's which proved absolutely crucial later this decade in terms of taking credit risks which are traditionally treated as something that stuck to the balance sheets banks and slicing and dicing it in a way that could be sold across the system and parceled out to investors all over the world. the initially did that with corporate credit risks and in fact for the most part stock with corporate credit risk and they did that partly through derivatives. and as they develop to those i

judgments and sometimes have the impression the financial implosion has happened because a team of evil marcion's have invaded the world and taken over the system with some kind of on bass and a plot to bring down the line and show system. and this idea there were actual human beings inside the financial system who are taking decisions for but it -- good and bad and like every human being had complicated motives wasn't about. so i picked up on the jpmorgan group and essentially the book the rise into three parts. the first part is called innovation because i try and tell the story about how this group developed a set of ideas starting in the early 1990's which proved absolutely crucial in terms of taking credit risk which were traditionally treated as something which stuck to the banks and slicing and dicing it in a way that could be sold across the system and parceled out to investors all over the world. they initially did that with credit risk and, in fact, stuck with corporate credit resco and they did that partly to the derivatives. and as they develop these ideas and came out as a much longe