Sunday, March 22, 2009

Aren’t These Obvious Questions? by Anthony McCarthy

Having never heard any explanation of derivatives or credit default swaps or any of the other myriad “new financial instruments” that doesn’t sound like a complex scheme of theft, considering the havoc they’ve played with the world’s well being and our own security, why is just about no one suggesting making them illegal?

These “new financial instruments” seem to be just another way to wring value out of the labor of those who actually produce something or provide a real, necessary service. They should be made illegal and possibly void. Wouldn’t getting rid of these drive investors away from the piratical economy and in to real investment in something productive?