Re:Ireland jails three top bankers over 2008 banking meltdown
by nl on Sunday July 31, 2016 @06:20AM
(#12196338)
Of course they are (or can be)! Any kind of highly leverage finance can be - they are extremely powerful tools, and in the wrong hands things can and do go wrong.
That doesn't make them illegal. The morality of them is more to do with selling them to people who don't understand what they are buying.
Re:Ireland jails three top bankers over 2008 banking meltdown
by jmngomes on Sunday July 31, 2016 @08:08AM
(#12196604)
"they are extremely powerful tools, and in the wrong hands things can and do go wrong."
Like guns, or even some drugs.
"That doesn't make them illegal."
But it should make them heavily regulated and scrutinized, which they aren't, and won't be unless for some serious civic activism.
Didnt Warren Buffett say in 2002 that derivatives were weapons of mass destruction.