Monday, April 12, 2010

Caveat Emptor, To Say The Least

Here's a story about what goes on in the OTC Derivatives market. Don't know what OTC Derivatives is all about? Neither did I. Seems it's the name of an arcane marketing practice which relies and thrives on a lack of transparency about what one is really buying.

Apparently transparency is the Devil Incarnate for all those who make lots of money by making an understanding of what it is one is buying almost impossible.

Some folks are smug, dismissive, condescending, even irritated that there is an almost total lack of trust of Wall Street on Main Street. No surprise that they are often those who work in or for the Financial Services industry, or politicians who are on its opaque payroll.


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