Monte Paschi puts derivatives loss at 730 million euros

Comments (3)
dareconomics wrote:

This is the first step along the road to the failure of this venerable institution:

Feb 06, 2013 1:06pm EST  --  Report as abuse
McBluffin wrote:

How does a financial institution lose between 720M and 1B Euros and not collapse and act as if this is not a huge issue?

Feb 06, 2013 1:34pm EST  --  Report as abuse
Greenspan2 wrote:

Brooksley Born attempted to sound the alarm on derivatives in the late 1990, encouraging regulation and transparency, and was shut out of the Washington establishment as a result. Warren Buffet referred to derivatives as weapons of mass destruction, yet here we are in 2013 still wondering how banks can lose enormous sums in derivative trades. Still no regulation. Still no transparency. And still no accountability except to the taxpayers and the least among us.

Feb 06, 2013 7:38pm EST  --  Report as abuse
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