Detailed text transcripts for TV channel - MSNBC - 20120111:21:50:00
Critical question which is what purpose does it serve. most of the other markets you talked about are there to create capital raising function. so much of the swap market, the credit markets, now are revolving around these arcane products that don't do anything other than permit people to bet in a casino without having any real social utility. and so you ask the yes why are we even supporting it. and what wouldn't we do better just to eliminate it. >> i asked dick, he used to run the new york stock exchange. he knows about securities, how to create marketplaces for securities. and i said, dick...
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