Wondering why not all economic actors appears to behave rationally in the current crisis? Well, they are apparently acting rationally, but playing by a new set of rules, which are defined by … drumroll please … derivatives that pay more in cases where their investments go bankrupt.  Yep, more derivatives working against the interests of the economy as a whole. Give those financial folks credit for figuring ways to screw the rest of us on the way and on the way down.

The scary rise of the “empty creditor.” – By Daniel Gross – Slate Magazine.