Derivatives traders get an earful from angry Greenspan
Derivatives traders get an earful from angry GreenspanAlan Greenspan, in his first public appearance in the U.S. since stepping down as Federal Reserve chairman, blasted traders for how they handle credit derivatives. Saying he was "frankly shocked" by the use of informal agreements and "19th-century technology that I find appalling," Greenspan called the system "unconscionable."
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posted by Victor Lloyd Smith @ 5:27 PM
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