Should anyone want to know what are the financial contracts to which the television news readers refer with little understanding, he or she might want to check here for the abstract of my most recent article, A Fable of Financial Contracts: A Guide for the Perplexed.
This is a very short--less than 3,000 words--article from a professional journal rather than a law review. Thus, it's reasonably reader-friendly. I've tried to explain terms such as forward contracts, derivatives, swaps, etc. in terms of a story of Farmer Rex whose fortunes rise and fall with the commodities market (and some of his own speculation). Sadly, Farmer Rex ends up in bankruptcy (as does virtually everyone else in the fable), which let's folks learn what the Bankruptcy Code does (and doesn't) do with "fabulous" financial contracts.
This is a very short--less than 3,000 words--article from a professional journal rather than a law review. Thus, it's reasonably reader-friendly. I've tried to explain terms such as forward contracts, derivatives, swaps, etc. in terms of a story of Farmer Rex whose fortunes rise and fall with the commodities market (and some of his own speculation). Sadly, Farmer Rex ends up in bankruptcy (as does virtually everyone else in the fable), which let's folks learn what the Bankruptcy Code does (and doesn't) do with "fabulous" financial contracts.
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