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{{a| | {{a|hf|{{image|Synthetic equity swap|png|}}}}Another one of those things, like [[LIBOR]] and [[supply chain financing]] that seems so ordinary, unfussy, sensible and harmless; that, in its way, points up the holy terror of [[non-linear]] interactions in financial markets. | ||
=== Like hedge funds, but — === | === Like hedge funds, but — === | ||
Normal [[investment fund]]<nowiki/>s — even [[hedge fund]]s — are somewhat arm’s length: there are checks, balances, and third parties involved with grave responsibilities, large sums of money and so on, and if anyone is cavalier things — and regulators — can get ugly, fast. | Normal [[investment fund]]<nowiki/>s — even [[hedge fund]]s — are somewhat arm’s length: there are checks, balances, and third parties involved with grave responsibilities, large sums of money and so on, and if anyone is cavalier things — and regulators — can get ugly, fast. | ||