Myron Scholes, the creator of the infamous Black-Scholes model for pricing derivatives

Myron Scholes, the creator of the infamous Black-Scholes model for pricing derivatives which won the Nobel Prize and then almost destroyed the world banking system with the Long Term Capital Management bankruptcy of 1998, has now partially understood that his derivative creations are a Frankenstein monster. He recommends wiping out the current crop of toxic cds derivatives. The only hope of world economic recovery