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Published on Jan 20, 2011
Most people have no idea what a derivative is, but if you have a pension run by a private company, you probably own a few. The problem is that the entire derivatives market is being run by a tiny group of banking CEOs who keep their activities a secret, even to their CEO buddies. Together this secret cabal has managed to sell their toxic derivative garbage, which is nothing more than a scam for investors. Mike Papantonio discusses this secret group of Wall Street insiders who control the derivative market with attorney Peter Mougey.