The Chairman of the US Commodity and Futures Trading Commission Christopher Giancarlo has penned a lengthy letter to the Vatican, which heavily criticised derivatives earlier this year.
Giancarlo, himself a Roman Catholic, and CFTC chief economist Bruce Tuckman published the piece on Saturday. It responds to a May communication by the Vatican’s Congregation for the Doctrine of the Faith, which said that some derivatives “have encouraged the rising of speculative bubbles, which have been the
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