No derivatives, no 40x leverage, no layoffs and no foreclosures means no hard landing, no housing crash.
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The unit will no longer trade synthetic derivatives contracts, Dimon said in July, and refocus on conservatively managing assets for the bank.
And MBIA will no longer use credit derivatives to guarantee new transactions.
So, higher capital standards, some limits on leverage and prohibition of derivatives with no apparent social benefit may have done 90 percent of the good that needed doing with many fewer unintended consequences that are bound to come out of a 2000 page document that no single person has read yet.
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The company that bears his name creates derivatives that have no bearing on the physical economy whatsoever.
At the IntercontinentalExchange, chief Jeffrey Sprecher has a derivatives exchange and no reason to want to get into the hyper-competitive stock business.
Also, banks and insurance companies (including those in Europe) that do use existing international standards have no requirement to account for derivatives.
The gigantic derivatives bubble serves no social purpose.
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Apart from derivatives, it has no business in which it is number one.
He should open an academy for Wall Street derivatives traders who have no idea of what risks they have been taking.
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There are no mortgage backed securities and other derivatives to drag the economy down with the housing market, even if the market did correct by that staggering amount.
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The existence of the potential for abuse, however, is no more an indictment of credit derivatives generally than it is of the stock market or any other useful tool of society than can sometimes be abused.
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There is no clearing house for the tens of trillions of dollars worth of derivatives trading, so there is an effort to make the trading more visible.
Wall Street has been moving billions of assets into a relatively new accounting category called "level 3, " a designation that the fair value of those assets, including subprime mortgages and derivatives, couldn't be determined because there was no observable market for them.
U.S. taxpayers were forced to pay for the stupidity and recklessness of our banks and financial institutions that frivolously lent to individuals with no justifiable means of repayment and then leveraged those loans through complex derivatives which caused the financial collapse of 2008.
Monte dei Paschi, seeking to staunch an outpouring of allegations surrounding its request for a second state bailout, has admitted the use of derivatives forced it to demand extra help but insisted that it has "no evidence" that bribes were behind the costly acquisition of a local rival that undermined its capital strength.
And Germany still has no proper wholesale market in electricity, although one may develop along with a new power-derivatives exchange, due to open in Frankfurt next year.
Derivatives regulation changed in Brazil as a result of the 2008 crash and now there are no worries about excess leverage in the corporate and banking space, Volpon wrote in a note to clients on Friday.
"Yesterday's (ADP) jobs number has ensured that no one is enthusiastic ahead of tomorrow's nonfarm payrolls, " said Mike McCudden, head of derivatives at Interactive Investor.
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