It is self evident how credit derivative contracts have plagued institutions, companies and, investors to the tune of hundreds of trillions of dollars. I can’t help but thinking how our fore fathers would of thrown out Hamilton if he would had suggested mocking investment with hedged out illiquid, interest absolved swindles . What shame I feel now that they are on OTC clearing exchanges. Americans must protest these bucket shop schemes with a loud voice. Though indeed President Obama has done more to regulate these shady so called “financial instruments” as any President since their evolution they need to be kept at a minimum namely for distressed industry or at risk agriculture. China and others have stopped investing in the dollar as its integrity is in question. We must lead a global effort to clean up this mess and shut the tap off before it drowns us.
