If I remember correctly from my money & banking course, though it's just been a few weeks, put and call options are considered "derivative" instruments, though I may be wrong. Naked shorting (and naked calls, naked puts...hell, naked anything, except for
the Hooters girl from Hampton, Va.) basically allow for trading of things that don't exist. And, yes, leverage is a problem, especially when you don't know how large the leverage is in a pool of funds, and the funds' owners think someone else is gonna bail them out.
Dodd...he has his hands in the pie. They all do.
You young University post grad dudes sure know how to make an old man's mind go blank!!! Them girls bras are way too shiny!!!
Who the hell cares about leveraged derivitives anymore???