Greece's debt crisis odyssey, 22 September 2011, BBC News

Binomial tree methods are taught in business school, as an investment tool, for the valuation of options.

Exchange Traded Funds are evolving from simply tracking/replicating a specific index to including leverage.

These tools and others are just like a rifle or pistol in that it's good to keep in mind that they are always loaded, are not toys, and need to be used responsibly.

Financial Engineering TTP's used by 'Quants'

A good, positive, and fun to read, book regarding the world of banking and finance is Against the Gods: The Remarkable Story of Risk, by Peter L. Bernstein

There are also plenty of examples to keep in mind of how things can quickly go wrong:

TARP

Long Term Capital Management

Kweku Adoboli

Jerome Kerviel