Detailed text transcripts for TV channel - CNN - 20100422:11:35:00
What we're talking about is, derivatives in this light really don't have any social utility. in other words, there's no usefulness in our society in the capital structure. they really are just bets as opposed to, let's say, you're buying oil futures because you're in airline and you need to hedge your exposure to rises or falls in the price of gas, right? so that's different. the concern i have about this bill is it still does not deal with this too big to fail notion. what they've done is say, okay, you know what too big to fail is? it's where we are right now. that doesn't seem reasonable. t...
Source: news source