Sublime

He’s referring to Operation Merlin, a botched effort from a few years back that’s just been leaked to the press. In a bid to entrap the Iranians into building a nuclear weapon in contravention of the ban, we apparently arranged for an asset to pass them plans for a contraband firing mechanism, sneakily—or so we thought—adapted to render the system

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.

Simply put, without Ivar Kreuger, modern securities regulation and litigation would not exist.