Derivatives Markets Quotes

“(…), extreme financial concentration has damaged not only the operation of financial markets, but also the ability of the Federal Reserve to influence their operation for the better (page 41).”
― Henry Kaufman, Tectonic Shifts in Financial Markets: People, Policies, and Institutions

“The Commodity Futures Modernization Act of 2000 -- buried in an 11,000-page budget bill and never debated -- was passed the night before Congress recessed for Christmas in December 2000. It exempted credit-default swaps from federal oversight and from state gambling laws.”
― Christine S. Richard, Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff