Giulio Tremonti: Erase the "Derivatives Monster"

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If I can use an image, it is like living in a video-game, with a key difference: In a video-game you can turn it off and the game is over.
This is a video-game that will not be over.
Behind the corner there are more monsters: the credit cards, the expected corporate bankruptcies due to troubled classification of corporate bonds, and then the monster of monsters, the derivative one...

21/11 - Giulio Tremonti: Erase the "Derivatives Monster"


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[KGW]

Re: Giulio Tremonti: Erase the "Derivatives Monster"

"In the current moment we are inside a situation characterized by big critical complexities. I said in a conference that this is not a recession cycle but a discontinuity... of a crisis that nevertheless leads to a solution, but you must go through it. I think that we must have scientific ignorance, knowing of not knowing. I think we should be diffident towards those who do not know that they do not know, those who, not having forecast the breakout of the crisis, want to explain to you how it will develop."

Giulio Tremonti

Wow, amazing to hear such as I emphasized above from a politician!