Centuries ago, news of momentous events traveled throughout the countryside by means of beacon fires, alerting all along the route to big changes coming. September and October 2010, are shaping up to be the time of the beacon fires when it comes to foreclosure fraud.
|By: Cynthia Kouril Sunday October 3, 2010 11:31 am|
|By: jamess Sunday April 25, 2010 3:58 pm|
Warren Buffet gave a prophetic pronouncement back in 2003 about the Derivatives market, seeing the exponential dangers of this “paper-thin” type of investment.
Buffet did not mince words. He called them “financial weapons of mass destruction“:
Buffett warns on investment ‘time bomb’
BBC – 4 March, 2003
The derivatives market has exploded in recent years, with investment banks selling billions of dollars worth of these investments to clients as a way to off-load or manage market risk.
But Mr Buffett argues that such highly complex financial instruments are time bombs and “financial weapons of mass destruction” that could harm not only their buyers and sellers, but the whole economic system.
Some derivatives contracts, Mr Buffett says, appear to have been devised by “madmen”. [...]