[Locke1689]

None of the positions you linked are inherently contradictory. Especially in the derivatives trading I have the feeling you have no idea what you're talking about. Going back and requiring existing derivatives contracts could cost a huge amount of money and time that wasn't taken into account when they were first bought. Applying the regulation to future contracts is a perfectly reasonable suggestion (especially since the vast majority of derivatives contracts are short term).

[MikeCapone]

btw, When Berkshire acquired Gen Re (a massive reissurer), they closed down its derivatives book. It cost Berkshire hundreds of millions and took years, but they closed that book because they couldn't understand these derivatives.

The ones that Buffet has invested in are way more straightforward, don't pose any systemic risk, and have very different collateral requirements than the toxic stuff.