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Oh come on, achilles... We've had this discussion before. I am not a banker, so I am not fear-mongering 'cause it suits me. However, I think it was the right thing to do (but, unfortunately, done at the wrong price). Doing nothing at the time would have been a perfect example of cutting off...

Well, it is a fact (not conjecture) that Italy has to deal with arnd €360bn worth of redemptions next year. Given it's running a budget deficit worth arnd 3.5% of GDP (all from interest costs), that's about €400bn worth of new Italian govt paper to hit the mkt in 2011. I sure hope and pray...

Sorry for the typo... Meant to type "disingenuous".

You're being disingenous, Sir Trefoil, and you know it... My point is simply that your "end justifies the means" type of argument doesn't work. You can't justify looting and expropriation of assets by arguing that the new owner will take better care of them and will be more productive...

Yeah, there's some peeps predicting FF eff at arnd 15bps in Q1 next year.

Huh? I think you're a bit behind the times... The entire Irish banking system has effectively collapsed already and is being financed by the ECB (as well as special "extraordinary" €20bn from the CBoI).

No, that was the first 2011 budget vote... Subsequently, the Fianna Fail government decided to explicitly put the decision on whether to accept the IMF/EU package to a vote in parliament (even though they didn't have to). Both Labour and Fine Gael (the two main opposition parties who will...

No, it's not the end. It's not even the start of the end, but it is, perhaps, the end of the start. - To paraphrase Winston Churchill, may he forgive me.

Well, to be honest, it doesn't really matter... Broad moral judgments of any sort are not really applicable in these type of circumstances. What is true is, as you say, that, throughout human history, both in the West and the East, a lot of the large fortunes were amassed through means that we...

Use of generalizations and "theories" is hardly ever a good thing.

It's sour grapes, if you ask me... Ken G and BONY both feel slighted by being excluded from the circle of trust. To some extent, I agree with this article: http://www.businessinsider.com/thomas-benison-james-hill-athanassios-diplas-paul-hamill-andy-hubbard-oliver-frankel-2010-12

Huh? So when in 1928 and onwards in the Soviet Union, during collectivization, land was taken from the peasants, often against their will, and given to the collective farms, that wasn't looting? 'Cause, you know, this land was still producing while it was in communal ownership twenty years...

Some of the things mentioned in this article are a bit silly...

There's a very simple explanation why this is the case. It's all about periphs, as usual.

Weird, most European exchanges (e.g. LIFFE and EUREX), are perfectly happy to let me sit on bids and offers simultaneously. Moreover, I can also do the same with Eurodollars on the CME and trsy futures on CBOT.

While the previous post was a bit over the top, the point made is absolutely valid... Most Bible scholars, as far as I know, agree that the modern version of the Bible contains so many "editorial revisions" and arbitrary amendments that it's actually very difficult to treat it as a historical...

You aren't the first to ask these questions... Problem is that things like tradition, happiness, etc are very difficult to measure, whereas economic activity is a bit easier. Therefore, there's been an assumption that if you just focus on the economics, the rest will follow. However, people...

http://www.espenhaug.com/black_scholes.html For the binomial, Google and ye shall find.

Well for my sins, I am in the mkt in Dec... There's a bright side to the illiquidity and choppiness of Dec. Sometimes really nice opportunities happen in Dec, so if you're careful, willing to take the other side of some price-insensitive flows and are willing to xfer some money into the next...