The mysteries of complexity for exotic financial instruments disguise the pure simplicity of their shared origin; namely, gambling games where the house always wins. Who exactly is the casino host? Is it the exchange, the brokerage firm or the government regulators? What about the credit rating agencies, the insurance bookie companies like AIG or the too big to fail banksters? Surely, the Federal Reserve, foreign central banks or the infamous Bank of International Settlements, must be the bottom line keeper of the cage.
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