Derivatives disclosure calls mount

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Warren Buffett, the renowned US billionaire investor, issued a broadside at the derivatives industry last month by describing the instruments as “time bombs” and “financial weapons of mass destruction”. His views strongly contradict those of Alan Greenspan, chairman of the US Federal Reserve, who again last month defended the role of derivatives as powerful hedging tools that have made the world’s financial markets safer. But calls for more derivatives disclosure are unlikely to

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