South Korean Finance Minister Rips "Genius" who Invented Derivatives

Oct. 10, 2008 (LPAC) --South Korean Finance Minister Kang Man-soo, before leaving Seoul for the Washington DC IMF meeting this weekend, told the Washington Post: "The United States almost forced the rest of the world to open up their financial sectors. It has been telling the world that its derivatives are an advanced technique created by some genius.... Derivatives and hedge funds are like casino gambling. A lot of Koreans are asking, how can the US be so weak?" LaRouche agreed, but added that Mr. Kang should have said "genie."

Minister Kang also insisted that the G7 "bring emerging markets into consideration as they make plans for a solution," backing up the call by President Sarkozy to expand the G7 to a G14 to discuss the creation of a new economic order.