LOS ANGELES -- Deliberately injecting a new dollop of uncertainty into the already-shaky international financial system has got to be the white-collar dysfunctional equivalent of dropping a pair of terrorism car bombs on the steps of some nation's central bank.
Yet this, in effect, is precisely what leaders of the New York Stock Exchange are proposing, however unintentionally, if, as seems probable, they proceed to sanction derivative funds as official products of the exchange.
A final decision to do so would be morally inexcusable and in all probability injurious to global economic stability.