Derivatives
Gary Gensler, the Chairman of the Commodity Futures Commission, explains in the New York Times why consumers with interest rates in their contracts should care about the integrity of Libor–the London interbank offered rate–which is used as a benchmark average interest rate at which large international banks can borrow money. http://www.nytimes.com/2012/08/07/opinion/libor-naked-and-exposed.html?_r=1
Read MoreJohn Wasik, award-winning author of 13 books and personal finance columnist for Reuters, has issued this report with Demos, titled How Safe Are Your Savings? How Complex Derivatives Products Imperil Seniors’ Retirement Savings. Fair Contracts Intern Dylan Hanson and Citizen Works contributed to the background research. Wasik writes: Few investors fully understand what they’ve been…
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