Another devil in the financial crisis

You may not understand derivatives, but you could eventually feel the effects of these arcane investment tools: slower growth, higher interest rates and a weaker dollar.

By Jim Jubak

Bet you haven't seen this on a bumper sticker lately: "Save the derivatives market."

Hardly catchy. Especially since almost no one actually knows what a derivative is. And it sure goes against the emotions of the crowd right now.

Along with Christopher Cox, the head of the Securities and Exchange Commission and of a Wall Street culture of greed, derivatives are the villains in the current collapse of the global financial system.