As you, dear readers, instructed

The most dangerous financial products in Europe. Those that must be banned.

Two have now been entered at the site.

The euro and the FTT.

Wonder if either will actually show up?

UPDATE: As we all rather expected my two entries have been banned from the competition. Usual bastard politicianspeak.

Oh, and Sven Giegold is a spivvy little cunt n\’all.

8 thoughts on “As you, dear readers, instructed”

  1. “CFD (Contracts For Difference)

    for example Rough Rice Futures,see: Reasons for the proposal: VERY RISKY and under certain circumstances VERY EXPENSIVE – leveraged structure, dangerous since investors have to determine leverage on their own!”

    OMG investors have to do something ON THERE OWN! THINK OF THE CHILDREN!!!

    I feel sick.

  2. From the submission on CFDs:

    “- investors are attracted to “shadow stock exchanges” (Chi-X or Turquoise) -> over the counter; narrowest spread”

    This sentence alone shows stunning ignorance. First it complains that CFDs somehow attract people to “shadow” exchanges (not really sure what this means). Saying that CFDs are bad because the are traded on Chi-X or Turquoise – they are also bad because they are traded OTC. What?

    Also, having a narrow spread is bad? Would be hilarious if something like this went into legislation. If they are not outright banned, there would be one set of laws restricting trading, reducing liquidity and therefore increasing spreads (because, apparently narrow spreads are bad)… and another set of laws pumping money into the system (via QE or whatever euphemism for money printing they use) in order to increase liquidity and therefore narrowing spreads.

    When can we leave?

  3. Currently top of the list:

    “I am convinced that products based on food speculation are dangerous on a global scale because the poorest and disadvantaged are the main sufferers from the speculation on food.”

  4. Hmm – so it would appear that my entry for the FTT won’t appear on the list as well.

    Not that it should come as a surprise…

  5. I also tried the Euro and the FTT….but also suggested government bonds and household mortgages. After all -the latter two are major components of the financial crisis and brought down more banks than anything else.

    I fear though tha this excercise is purely a lefty/EU goalseek…..they knew before they started what answers they were looking for and simply want some people also to suggest the same so they can shout “the people want this” to put forward as some kind of evidence.

  6. Worst financial construct was the Euro, its done untold damage to the finances of the whole of Europe. Just wait till Germany finds out they will not get their money back from the southern Europeans.

  7. btw I also argued via way of return email that given the Euro is most certainly a financial product (as a store of value) and it can certianly be banned, or removed from service….what are the odds i get a response?

  8. I submitted ‘Investments in renewable energy’, because of regulatory uncertainity. Think Solyndra.

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