Consumer groups fought hard to provide investor protections for 'special entities' such as pension funds, schools, and municipalities who purchase swaps. No comparable protection exists in the futures market.
Sentiment: NEGATIVE
One of the worst things to come out of the Consumer Protection Board's misleading claims is the impression that government resources are to hard to get and just aren't available for regular people like you and I.
History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
Markets don't allow you to hang about.
Imagine if the pension funds and endowments that own much of the equity in our financial services companies demanded that those companies revisit the way mortgages were marketed to those without adequate skills to understand the products they were being sold. Management would have to change the way things were done.
Even in Britain, the trade unions tell me that employment contracts have less protection than in the past.
Money can't buy poverty.
You can't have bank holding companies acting as hedge funds. You can't have them taking a million-dollar pension plan for Joe Schmo the bus driver and treat it with the same risk appetite that you treat George Soros' pocket money. It's fundamentally ridiculous.
If there had been a Financial Product Safety Commission in place 10 years ago, the current financial crisis would have been averted.
Once you are a victim of a bombing, you enter a risk group to which they will not sell insurance.
People don't place their trust in government or company pension plans; they have to be self-reliant.