I hope he was well paid by somebody who doesn't like clearing houses to write that, as it appears to be the sheerest nonsense. Clearing houses are useful, and t

I hope he was well paid by somebody who doesn't like clearing houses to write that, as it appears to be the sheerest nonsense. Clearing houses are useful, and they have worked very well in futures markets for the last 100 years. Why I'm supposed to be safer because "big banks trading with each other ... and topology" remains unstated in any convincing way. I mean, despite the author's having worked on the street, he apparently never heard of correlation matrices.