Tuesday, November 23, 2010
Friday, April 23, 2010
George Soros on Goldman Sachs & Derivatives
source: The Vigil Blog
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Credit default swaps are particularly suspect. They are supposed to provide insurance against default to bondholders. But because they are freely tradable, they can be used to mount bear raids; in addition to insurance they also provide a license to kill. Their use ought to be confined to those who have a insurable interest in the bonds of a country or company.
It will be the task of regulators to understand derivatives and synthetic securities and refuse to allow their creation if they cannot fully evaluate their systemic risks. That task cannot be left to investors, contrary to the diktats of the market fundamentalist dogma that prevailed until recently.
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... godman sucks on a mission for god ...
... we would have been better off with santa klaus ...
... read more Soros articles below ...
George Soros - Articles & Essays
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