Before I begin I am not advocating for Michael Moore's opinions or Wall Street's in this post.
Michael Moore made a film called Capitalism A Love Story. In two scenes he sits with a former VP of Lehman Brothers and Harvard Professor. He then asks them what a derivative is and neither can explain. He then concludes that "the complex system and terminology are merely there to confuse and "get away with murder", and Wall Street is just "an insane casino." (wikipedia/capitalism a love story). After speaking with two people have you ever said now I am completely informed on a topic.
With this outlook you don't change the world or help people. Finance and Wall Street aren't going away and remember there are plenty more people that want to help you and do a good job at it. Don't condemn the system due to a few bad apples that unfortunately had enough control to do the damage we've seen.
Derivatives have been around since the 18th century and one of the oldest derivatives is rice futures. Derivatives can be used to hedge risk as well as speculate.
There are many reasons why 2008 was so bad and why we are still feeling the effects today. Derivatives as a whole aren't the sole reason for this. Yes there were very complex derivatives used but greed really drove the US into the situation we are in today.
More on Derivatives soon
Futures
Michael Moore made a film called Capitalism A Love Story. In two scenes he sits with a former VP of Lehman Brothers and Harvard Professor. He then asks them what a derivative is and neither can explain. He then concludes that "the complex system and terminology are merely there to confuse and "get away with murder", and Wall Street is just "an insane casino." (wikipedia/capitalism a love story). After speaking with two people have you ever said now I am completely informed on a topic.
With this outlook you don't change the world or help people. Finance and Wall Street aren't going away and remember there are plenty more people that want to help you and do a good job at it. Don't condemn the system due to a few bad apples that unfortunately had enough control to do the damage we've seen.
Derivatives have been around since the 18th century and one of the oldest derivatives is rice futures. Derivatives can be used to hedge risk as well as speculate.
There are many reasons why 2008 was so bad and why we are still feeling the effects today. Derivatives as a whole aren't the sole reason for this. Yes there were very complex derivatives used but greed really drove the US into the situation we are in today.
More on Derivatives soon
Futures
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