Page 45 - Dick Grasso News Today : Breaking News, Live Updates & Top Stories | Vimarsana

About. a lot of it is just gambling on other people's houses. >> and your friend and mine in richard grasso makes the point that we can distinguish between mission critical swaps that are facilitating energy, food, other mission critical things, and things that are not. and he says i believe regulators should require the product being swaps to be registered with a central clearing agency like an exchange or perhaps central bank. and thus able to be monitored globally to prevent contracts being written in excess of the debt obligations they're designed to insure. he goes on to say this is easil...

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...

Regulators as simply online gaming. is that online gaming? >> it seems to me it is. and this issue has been addressed by state regulators who in the past before it suddenly exploded, they said what are these products and do they -- should they be prohibited. it's not a crazy thought. i think dick is on to something. he and i have had our battles in the past, but i think here he is exactly right. what he's really saying is if these products don't serve a purpose, get rid of them. >> what do you think of the chances would he get eliot spitzer and dick grasso together? >> 100%. >> hanelliott, tha...

significant improvement pretty much for the whole world. >> looking forward to it. take it away. >> thank you so much. show starts right now. good wednesday afternoon to you. i am dylan ratigan. the sheriff of wall street still to come. and the latest trend in america, apparent lit stay at home husband. we'll talk about it with the author of a new book out of bloomberg news. but our big story today once again obviously auction 2012, mitt romney now 2-2 after winning new hampshire. this has not happened for a nonincumbent republican for whatever that means to might be anywhere. mayb...

much for the whole world. >> looking forward to it. take it away. >> thank you so much. show starts right now. good wednesday afternoon to you. i am dylan ratigan. the sheriff of wall street still to come. and the latest trend in america, apparent lit stay at home husband. we'll talk about it with the author of a new book out of bloomberg news. but our big story today once again obviously auction 2012, mitt romney now 2-2 after winning new hampshire. this has not happened for a nonincumbent republican for whatever that means to might be anywhere. maybe john alter will give us conte...