Warren Buffett calls these instruments, "financial weapons of mass destruction". The recent economic meltdown is due to bad management, property prices gone wild and derivatives instruments that nobody understands. Derivatives have burnt many financial savants and so called gurus - Harvard University and Nobel Prize winners of Finance to name a few. Fortune even stated that many CEOs have no clue about the intricacies of these instruments. The world is MAD - it can't even agree to ban an instrument that is causing it financial cancer. There You Have It (TYHI).
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