Controversy About The Financial Crisis
The derivative markets have been accused lately for their alleged role in the financial crisis of 2007-2010. The leveraged operations are said to have generated an “irrational appeal” for risk taking, and the lack of clearing obligations also appeared as very damaging for the balance of the market. The G-20’s proposals for financial markets reform all stress these points, and suggest:
- higher capital standards
- stronger risk management
- international surveillance of financial firms' operations
- dynamic capital rules.
Read more about this topic: Derivatives Market
Famous quotes containing the words controversy, financial and/or crisis:
“Ours was a highly activist administration, with a lot of controversy involved ... but Im not sure that it would be inconsistent with my own political nature to do it differently if I had it to do all over again.”
—Jimmy Carter (James Earl Carter, Jr.)
“Because of these convictions, I made a personal decision in the 1964 Presidential campaign to make education a fundamental issue and to put it high on the nations agenda. I proposed to act on my belief that regardless of a familys financial condition, education should be available to every child in the United Statesas much education as he could absorb.”
—Lyndon Baines Johnson (19081973)
“I know my fate. One day my name will be tied to the memory of something monstrousa crisis without equal on earth, the most profound collision of conscience, a decision invoked against everything that had previously been believed, demanded, sanctified. I am no man, I am dynamite!”
—Friedrich Nietzsche (18441900)