1.   Bankers Trust has been the subject of controversy following some bad derivatives deals that caused some customers to sue and various government agencies to accuse the bank of fraud.

2.   But they did not agree that clients should rely on their brokers for advice about derivatives deals.

3.   Currently, companies can often enter into derivatives deals with no impact on their financial statements.

4.   Entitlements could collapse, a derivatives deal may bring down the markets, some rogue nation might fire a missile at Manhattan.

5.   In some cases, attempts by officials involved in internal control to look more closely at derivatives deals were rebuffed.

6.   Of course, derivatives deals can be risky, and some of the companies that have lost money feel misled.

7.   Subsequent government investigations and civil suits uncovered instances in which Bankers Trust employees misled their clients about the risk of derivatives deals.