That Was The Week: Sweet toxic cake

Structured products were created to appease a desire for yield, rather than win banks ludicrously large fees. Products that slipped into the financial markets in France, with the promise of a guarantee of capital were subsequently hijacked for yield hogs, particularly those in Italy that were threatened with the disappearance of great returns on government bonds once its government joined the euro and was able to move from making double-digit to low single-digit coupon payments on its debt. Ful