Comments for And Where Did the Complexity Come From? Nocera on Financial Reform at http://www.cepr.net , comment 1 to 12 out of 12 comments http://www.cepr.net Wed, 19 Jun 2013 10:03:57 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14195 There is nothing in the article that is specific to CDS's. A CDS can, however, also be useful in legit business. There's nothing magical about derivatives - people have been using instruments like them in business for thousands of years. But can one expect people who use rhetoric like "mindless obot" to know anything at all? Unlikely. - rootless_e Thu, 19 Jan 2012 16:56:16 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14143 [b]rootless_e[/b] wrote, [quote]And there is nothing inherently wrong with derivatives. US company A sells a year of widget deliveries to French Company B for C euros each and buys insurance on the exchange rate. That insurance is a derivative. [/quote] LOL. We're talking about CDS, not various FX derivatives. If you want to argue that CDS are a useful financial innovation that didn't have much of anything to do with the financial crisis, then you clearly no nothing about finance or the crash. - liberal Wed, 18 Jan 2012 02:20:25 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14142 [b]rootless_e[/b] blithered, [quote]...and Yves Smith is a very unreliable source of information...[/quote] That's funny, coming from a mindless O-bot like yourself. - liberal Wed, 18 Jan 2012 02:17:21 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14126 The same is true of the tax code, of course. Paying your taxes is easy as pie, it's trying to avoid paying them where all the deductions and credits get complicated. - FGS Tue, 17 Jan 2012 12:41:28 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14125 and Yves Smith is a very unreliable source of information. And there is nothing inherently wrong with derivatives. US company A sells a year of widget deliveries to French Company B for C euros each and buys insurance on the exchange rate. That insurance is a derivative. - rootless_e Tue, 17 Jan 2012 10:24:00 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14118 Complexity is not a bug, it's a feature. It makes enforcement more difficult and "bending the rules" easier, at least if you have a team of lawyers and accountants. - djheru Tue, 17 Jan 2012 05:54:59 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14112 I agree with [b]skeptonomist[/b], though one of the people who's best on this issue (Yves Smith @ nakedcapitalism.com) says it would create havoc to get rid of them immediately. I think she proposed slow euthanization. - liberal Tue, 17 Jan 2012 04:08:00 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14110 There probably shouldn't be any regulation of CDS's - there shouldn't be any CDS's. If these things can't be outlawed on the basis of the harm they have caused, it would seem that there is no "financial innovation" of any kind that would ever be disallowed. - skeptonomist Tue, 17 Jan 2012 03:39:33 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14107 Would those call centeres be like Sitel in North Carolina, where 200 women paid $8-9 per hour queue up for one bathroom, and then are disciplined for doing so? Or are they the ones off-shored, sort of like the CIA's rendering system. - Bart Tue, 17 Jan 2012 02:35:18 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14103 Pls don't. izzatzo is hilarious. He is clearly mocking conservatives when he writes. I think he may actually be Stephen Colbert. - JSeydl Tue, 17 Jan 2012 01:24:26 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14102 Dean, can't you block this idiot? - jrhopkin Tue, 17 Jan 2012 00:51:39 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/and-where-did-the-complexity-come-from-nocera-on-financial-reform#comment-14101 [quote]...it is important to recognize that in many cases the industry was the source of the complication.[/quote] Outrageous nonsense. Studies show it takes only 25% of total waking hours to read all the fine print behind what drives the supply of consumption and investment goods and another 25% to negotiate towards one's preferences through highly efficient call centers. Markets are naturally transparent if allowed absent government interference. For example those who studied the shadow banking industry were perfectly capable of getting out unscathed while the getting was good. Stupid liberals. - izzatzo Tue, 17 Jan 2012 00:42:10 +0100