It's time to abolish credit default swaps and similar exotic, impenetrable, essentially unregulated securities. They add nothing to economic efficiency, they line bankers' pockets, and they add massively to global financial risks. Swaps were only invented in the 1990s. Before swaps, investors were perfectly capable of evaluating risks -- and there was less systemic risk to evaluate. The entire banking system is overdue for a drastic simplification that puts banks back in their legitimate business of evaluating risks and then holding onto them, rather than passing the hot potato to someone else. This will require a revolutionary power shift, and it is one the Occupy Wall Street protests are already promoting.