Belmont Club

By Richard Fernandez

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Systemic risk

February 3, 2009 - 9:49 pm - by Richard Fernandez
In the Industry
2009-02-04 09:28:50

RWE:

derivatives are just fancy insurance. With insurance, you can go into the insurance business or you can buy insurance. Or if dealing in derivatives you can alternatively have a fuzzy understanding of what you are doing or just lie about it. Everything else is footnotes.