Jim suggests two good points,
Two points:
1. Amazing that the evil of derivatives is just coming from people who have deal significantly in OTC derivative.
2. There is no cure to 90% of enormous amount of outstanding OTC derivatives because they have NO standards.
No standards means no fix possible. That is ABSOLUTE fact!
Among the considerations still in the balance: A big provision being sought by Warren Buffett in recent weeks. A key Senate committee had changed its proposed overhaul of derivatives regulation after lobbying by Mr. Buffett's Berkshire Hathaway Inc., potentially helping the famed investor avoid a financial hit, congressional aides say.
Source: online.wsj.com
