Sublime

The central relationship that money crystallizes is between lender and borrower.

Securitization had produced the most toxic financial assets in the world – Fabrice Tourre was just one of an army of financial engineers manufacturing them – and had spread them far beyond the originating banks; revealingly, the near-total collapse of securitization in the course of 2008 was a key feature of the crisis.

Lehman Brothers

Once again, however, the opportunity for financial innovation was provided by war.

key components of the financial system: the bond market, the stock market, the insurance market, the real estate market and the extraordinary globalization of all these markets

Credit and debt, in short, are among the essential building blocks of economic development, as vital to creating the wealth of nations