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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (18342)	3/6/2009 11:10:35 PM
From: axial	2 Recommendations Read Replies (1) \| Respond to of 71462

Maybe he has the Nobel Prize, but you were quicker to say "ban derivatives". However banning derivatives alone won't solve the problem. We must ban OTC markets. Period. Message 25471383 --- It's sorta like this: about 30 years ago, a Canadian politician said the government should "ban strikes". The Prime Minister replied "What good will that do? Then you'll just have 'illegal' strikes." --- Ban derivatives, ban OTC markets. Now. Why in heaven's name are we still using CDSes? And for Gawd's sake stop using taxpayers to backstop these stupid transactions when they default! I understand that Bernanke and Paulson wanted to prevent a global collapse: maybe they did right, maybe they did wrong. We won't know for years, and maybe they don't know: they're just doing what looks right to them. But why do we (and the world) continue to practice the transactions that got us into this mess in the first place? When we know they create tremendous systemic risk? When they don't guarantee anything? That's the mystery. WTF is going on? Jim