Re: The Next Ticking Time Bomb in US economy : Derivatives.
by Berkeley Brett <RoyalOui@[EMAIL PROTECTED]
>
Mar 14, 2008 at 04:35 PM
Warren Buffett, the celebrated investor -- now listed by Forbes
magazine as the world's richest man (having surpassed Bill Gates of
Microsoft:
http://www.bloomberg.com/apps/news?pid=20601103&sid=at.RH4jxQ2AA&refer=us
) -- has described derivatives as "financial weapons of mass
destruction" and as a "mega-catastrophic risk" for the economy (a 2003
story, but no less relevant today:
http://news.bbc.co.uk/2/hi/business/2817995.stm
).
Let's hope for the best, but prepare for the worst....
Best wishes to all.
--
Brett
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