Fourth, consider that Merrill is only one shrinking player in the derivatives game.
Fifth, reread Yves' column in Naked Capitalism where she explains that many derivatives cannot be used safely. Add to that the point about how they can be used to create a "sure thing" of record fictional profits, record compensation -- and catastrophic losses.
Story here.
Finally, if you're struggling to grasp or digest all this, and want to better understand the previous few paragraphs, watch this short Thom Hartmann video clip. Thom explains it all in simple terms.
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