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Cross-Border Regulations Protecting the Financial System From Overseas Risk

Warren Buffet called derivatives ‘weapons of mass financial destruction’ for a good reason.  Derivatives were at the core of causing and spreading the 2008 financial crash, and one of the key lessons from that crash was that those risks are not limited by international borders.  That is why U.S. taxpayers ended up bailing out both U.S. and non-U.S.

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