As the Dow Jones Industrial Average passes 10,000, the most powerful man in the financial world is worried again — and not just about irrational exuberance. Notwithstanding media depictions of Alan Greenspan’s unwavering enthusiasm for continuation of a largely unregulated derivatives market, the Federal Reserve chairman is actually running scared from this most sophisticatedregion of the financial world.”
In an important speech to the Futures Industry Association in late March, he tossed a few sound-bite platitudes to the media lauding the growth in derivatives, those financial instruments whose value is derived from other assets (they include options, futures, swaps, and other more complex instruments). He cooed about how derivatives have allowed us to reduce risks and create wealth.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]