An explanation of derivatives – finally

tribble1 Update

April 22

At last I have found an understandable explanation of derivates, the recent darlings, now villains, of our financial system. Gail Collins writes in The New York Times:

Try to think of derivatives as being like the Tribbles in that classic “Star Trek” episode. For all of history, there was no such thing. Then somebody found the first ones, which looked cute and made soothing noises. We liked them fine, until the population grew to be worth about $600 trillion. When they got into the financial engine, all hell broke loose.  NYT

April 23

But seriously folks: See USA Today (April 23)

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More than a lifelong connection to Elk Rapids
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