Friday, April 27, 2007
Very worrying indeed
"The credit derivatives market has doubled each year since 2003, with outstanding contracts worth $34,500bn, according to the International Swaps and Derivatives Association. Even before this explosive growth, America's most successful investor, Warren Buffett, described derivatives as "financial weapons of mass destruction" that threatened the stability of the world's entire economic system."
Who is going to argue with Warren Buffet?