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In reply to the discussion: Wait, the Derivatives market is worth $1,200 TRILLION dollars??? [View all]FarCenter
(19,429 posts)19. What do you mean "no one knows what the hell they are"?
Read Sayajit Das', "The Swaps & Financial Derivatives Library: Products, Pricing, Applications and Risk Management, 3rd Edition Revised", 4 volumes, 4700 pages.
http://www.amazon.com/The-Swaps-Financial-Derivatives-Library/dp/0470821760/ref=ntt_at_ep_dpt_9
For a more fun read, there's his "Extreme Money: Masters of the Universe and the Cult of Risk".
http://www.amazon.com/Extreme-Money-Masters-Universe-Cult/dp/0132790076/ref=ntt_at_ep_dpt_1
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Yep, I have a friend with a masters in math from MIT. He sat down and explained them to me
stevenleser
May 2012
#33
Banned? Oh no don't do that, just because we silly mortals cannot understand it.
Zalatix
May 2012
#34
That is a powerful metaphor, I hope you will consider building an OP
coalition_unwilling
May 2012
#43
Actually, the CFTC does not have regulatory authority over many of the
coalition_unwilling
May 2012
#42
Yes, I'd like to see the derivitives market regulated by the Nevada Gaming Commission
Jack Rabbit
May 2012
#48
There are two problems actually. Your problem is one of them, in that
coalition_unwilling
May 2012
#44
At least the Roman empire created some great art and philosophy that
coalition_unwilling
May 2012
#45
You are conflating currency (a physical form that money takes) and money (the
coalition_unwilling
May 2012
#46
Here's a good example from real life: AIG sold credit default swaps against
coalition_unwilling
May 2012
#47