NORTH KOREAN DERIVATIVES CLUSTERFART: REVOLUTIONARY REGULATORY REFORM NOT NEEDED

North Korean Leader Dear Liberace Rumored to Have Lost His Pants

on Botched Kim Chee Swap Positions

BANZAI7 NEWS-- North Korea has executed a top financial official in a desperate attempt to quell public anger at a bungled currency play, South Korean news reports and analysts said Thursday.

Pak Man-Kim, who was earlier reported sacked as chief of the ruling communist party's derivatives, hedging and finance unit, was shot dead last week at a military paint ball range in Ping Pong, Yap-Atak news agency said.

Pak Man, 77, was charged "with ruining the national economy deliberately as the son of a big time swap trader who infiltrated the ranks of revolutionaries," Yap-Atak said, quoting sources familiar with events in the North.

But it said many North Koreans believe he was made a scapegoat for the botched Kim Chee Swap FWMD program.

WB7: Looks like the North Koreans don't need financial regulatory reform.