Giancarlo makes moral case for derivatives to Vatican

Giancarlo PA 230x150
By Ross Lancaster
23 Jul 2018

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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