Finance’s Fatal Illusions: How Modern Markets Turn Risk into Ruin

"Real engineering was replaced by financial engineering."
— Satyajit Das

Financialization's virus endures, even as defaults spike and systems frag.

I've distilled Das's trilogy of critiques (including "Traders, Guns & Money" and his fresh 2025 op-ed). Expect surprises like AI hype as the new "greater fool" charlatanism, shadow banking's opaque grenades, and Voldemort's verdict on our amnesia ("Humans never learn. Such a pity.").

This insider's savage takedown of finance's illusory empires where derivatives morphed from shields to shivs, bubbles birthed phony prosperity, and debt became a "bed of nails" rings eerily true amid 2025's cash flow crunches, asset deflations, and unlearnt lessons from contagion loops.

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