Sublime

grok

Throughout the civilized world, from Battery Park to Fulton Street, he was known as a dependable man for a fast tax write-off.

One man’s liability had always been another man’s asset, but now more and more of the liabilities could be turned into bits of paper that you could sell to anyone. In short order, the Salomon Brothers trading floor gave birth to small markets in bonds funded by all sorts of strange stuff: credit card receivables, aircraft leases, auto loans, health