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Good morning from the newsroom of the Financial Times.

Today is Friday, May 3rd, and this is your FT news briefing.

Investors are flocking back to a product blamed for intensifying the losses of the

financial crisis.

Thousands of U.S. screenwriters and producers take on their private equity-backed agents,

and the billionaire founder of Drugmaker, Incyst, is among those found guilty of bribing doctors to

prescribe an addictive painkiller. Plus the FT's David Proh talks about the

direction Barclays might go in after fending off an activist investor.

I'm Mark Filipino, and here's the news you need to start your day.

Investors are flocking back to a product blamed for intensifying the losses of the financial crisis,

so-called synthetic collateralized debt obligations.

J.P. Morgan analysts estimate these debt products,

better known as synthetic CDOs, have surged by 40% in volume this year.

That puts the market on pace to pass the $200 billion traded in 2018.

These synthetic products give investors a chance to bet on the underlying performance of bonds, loans, and other debts.

Whereas standard CDOs promise investors bonds, loans, and other debts.

Whereas standard CDOs promise investors the cash flows

from those credits.

The appeal of synthetic CDOs today

is that they offer higher returns

...