Fake money adds up to meltdown

The primary mathematical equation used by large banks and Wall Street traders to set up their derivative transactions is discussed in Equation 17 of Ian Stewart’s recent book “In Pursuit of the Unknown, 17 Equations That Changed the World.”

Anyone interested in the huge amounts of fake money used in these trades, that arguably caused the recent economic meltdown, might want to read this very interesting book, which describes in detail what actually went on.

I agree with Roger Sayer’s statement in his recent letter, “Things have gotten out of hand.” (Sunday, “Indeed, logic is totally missing.”)

Mr. Stewart recommends that a possible first step needed to slow down the banks and Wall Street traders could be a required recorded tax on each transaction. Presently billion dollar trades are made with the flick of a computer mouse.

Albert Highberger

Snohomish