Guess who said this,"Credit default swaps, which aim to protect bondholders against the risk of a default, are dangerous and a “license to kill,” .CDSs should only be allowed if there is an insurable interest, he said." read more here.

I thought as the champion of Open Society, everything goes, and it is the resposibility of the authority to competitively managing the economy, not by regulating any new game. He sounds very much like what we did in 98 remember no naked shorting. Sorry but you are 12 years late. I thought in democracy, the interest of majority should be the priority, not some high net worths.

This kind of lethal error can create a massive damage to economies. And he has no resposibility to his ideas. He can persuade us to accept his ideas, but if it failed, he will not be there even to console us, but finish us off when we are bleeding badly.

Moral of the story, never listen to carnivores like him as well as his side kicks like "Crook"Man etc. because their advises are not insured!