Warren Buffet declared that derivatives used as a means for investment are a financial weapon of mass destruction:
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.In related news, the US Army is mobilizing on Wall St., and the New York Army National Guard is on standby status. President Bush is planning to address the United Nations shortly to call for the complete and utter disarmament of the financial sector.[...]
Some derivatives contracts, Mr Buffett says, appear to have been devised by "madmen".
