Derivatives: They're not just for breakfast.
The total value of derivatives in the world exceeds total global gross domestic product, creating volatility and crisis in stock markets, Mobius told reporters in Tokyo today.
"Are the bank bigger than they were before? They're bigger," Mobius said. "Are the derivatives regulated? No. Are you still getting growth in derivatives? Yes."
The global financial crisis three years ago was caused in part by the proliferation of derivative products tied to U.S. subprime loans and contributed to the collapse of Lehman Brothers Holdings Inc. in September 2008
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