![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFyPvqG7Dqw5eppbC58gJlmqzyXA-Kvssj0-6VZWN0mhNLMU3e6jFWneMFybJiQId9pQDTlNxEiP-gd5jRn4t-8bps3NSbeznxparmbX8wuXUg-dWpHFBW22fjNR7qmNpPX-MbVXoxnNA/s400/the-rating-process-f.jpg)
From ABC Radio National: Many of the large collapses during the global financial crisis were finance companies dealing in exotic financial instruments such as Collateralised Debt Obligations - CDOs. CDOs are a form of derivative, a trading tool with a long and chequered history. We trace the origin and purpose of derivatives and how they became so large and dangerous....listen here