Variable annuity products must avoid the derivatives witch hunt

Variable annuity products must avoid the derivatives witch hunt

michael-faulkner

Warren Buffet once famously described derivatives as “financial weapons of mass destruction”. The ‘Sage of Omaha’, in one of his annual letters to shareholders in his Berkshire Hathaway company, described derivatives as “time bombs”, both for the parties that deal in them and the economic system as a whole. He warned of the linkages derivative contracts create within the financial system and the liquidity death spiral that could take hold if there was a sudden and unexpected demand for collatera

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