It might be true that credit derivatives add some value to the system, but derivative traders making $8 million a year is not representative of the value they a

It might be true that credit derivatives add some value to the system, but derivative traders making $8 million a year is not representative of the value they are adding. It is merely caused by the market inefficiencies due to obtaining the required skills and banking licenses and such. And banks are happy to keep it that way, all these extra regulations mostly serve to enshrine their positions.