Derivatives: Darth Vader's Revenge Message Board

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Non-Tech : Derivatives: Darth Vader's Revenge

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To: Worswick who wrote (1690)	8/17/2010 5:04:09 PM
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Hi Clark - In reading Bass's testimony, I was struck by this: From page 3: "Again, if participants had to post initial collateral in order to take risk, the derivatives marketplace would not have mutated into the monster it is today." --- Hmmm... "On reflection, I can think of NO regulation or policy that will prevent further mischief, save one: make the participating players guarantee each transaction on a dollar-for-dollar (not leveraged) basis. Disregarding the burden that would place on the financial transaction system, that would ensure that each player has underwritten the potential failure of each transaction, and that the consequences would be confined to the perpetrators." Message 24665654 In all this highfaltin' dialogue about financial esoterica, doesn't it seem there should be a place for simple common sense? Guess not :( Jim

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