Chicago: New Financial Capital of the World? (Derivative time Bombs)
Chicago: New Financial Capital of the World?Buffet calls derivatives "financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal time bombs.
All it took was the Chicago Mercantile Exchange joining forces with the Chicago Board of Trade and Bam! -- Chicago, not New York, becomes the largest financial market in the world once the merger is approved.It's all because of derivatives, a sophisticated and controversial investment product that few people outside financial services even understand.
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Labels: credit derivatives, derivatives, regulation, risk management, trading
posted by Victor Lloyd Smith @ 5:23 PM
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