{"id":553,"date":"2010-03-06T20:55:51","date_gmt":"2010-03-07T00:55:51","guid":{"rendered":"http:\/\/www.sporks.org\/blog\/?p=553"},"modified":"2010-03-06T20:55:51","modified_gmt":"2010-03-07T00:55:51","slug":"calculated-risk-volcker-on-derivatives-abuse","status":"publish","type":"post","link":"https:\/\/www.sporks.org\/blog\/?p=553","title":{"rendered":"Calculated Risk: Volcker on Derivatives &#8220;Abuse&#8221;"},"content":{"rendered":"<div class='posterous_autopost'>\n<div class=\"posterous_bookmarklet_entry\">\n<blockquote>\n<div>\n<p>From Bloomberg: <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601103&amp;sid=a26n.U6qS6cU\">Volcker Criticizes Greek Budget Derivatives \u00e2\u20ac\u02dcAbuse\u00e2\u20ac\u2122<\/a> (ht jb) <\/p>\n<blockquote><p>\u00e2\u20ac\u0153Surely the recent revelations about the use (and abuse) of complex derivatives in obscuring the extent of Greek financial obligations reinforces the need for greater transparency and less complexity,\u00e2\u20ac\u009d Volcker said in the text of a speech to the American Academy in Berlin.<\/p><\/blockquote>\n<p> Ouch.<\/p>\n<p>And at the same event, Bloomberg quotes European Central Bank President Jean-Claude Trichet as saying: <\/p>\n<blockquote class=\"posterous_short_quote\"><p>\u00e2\u20ac\u0153what I fear really is that we are currently underestimating the systemic instability which is associated with\u00e2\u20ac\u009d derivatives.<\/p><\/blockquote>\n<p> Hopefully a <a href=\"http:\/\/www.americanacademy.de\/home\/audiovideo-archive\/\">video of Volcker&#8217;s speech<\/a> will be available soon.<\/p>\n<\/p>\n<\/div>\n<\/blockquote>\n<div class=\"posterous_quote_citation\">via <a href=\"http:\/\/www.calculatedriskblog.com\/2010\/03\/volcker-on-derivatives-abuse.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29&amp;utm_content=Google+Reader\">calculatedriskblog.com<\/a><\/div>\n<\/p>\n<\/div>\n<p style=\"font-size: 10px;\">  <a href=\"http:\/\/posterous.com\">Posted via web<\/a>   from <a href=\"http:\/\/sporks.posterous.com\/calculated-risk-volcker-on-derivatives-abuse\">alex chan&#8217;s posterous<\/a>  <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>From Bloomberg: Volcker Criticizes Greek Budget Derivatives \u00e2\u20ac\u02dcAbuse\u00e2\u20ac\u2122 (ht jb) \u00e2\u20ac\u0153Surely the recent revelations about the use (and abuse) of complex derivatives in obscuring the extent of Greek financial obligations reinforces the need for greater transparency and less complexity,\u00e2\u20ac\u009d Volcker said in the text of a speech to the American Academy in Berlin. Ouch. And [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-553","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.sporks.org\/blog\/index.php?rest_route=\/wp\/v2\/posts\/553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sporks.org\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sporks.org\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sporks.org\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sporks.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=553"}],"version-history":[{"count":0,"href":"https:\/\/www.sporks.org\/blog\/index.php?rest_route=\/wp\/v2\/posts\/553\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sporks.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sporks.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sporks.org\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}