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Hate to break it to you, but the U.S. is actually a representative democracy in the form of a constitutional republic. Calling it a simple republic or democracy doesn't give the founding fathers their due for what they gave us. It's pretty damned brilliant.

The fact that Paulson has not been able to explicitly define the exact universe of what "mortgage-related assets" he's planning to buy should make everyone very suspicious of their true intentions. If the "assets" he wants to buy are more than two levels removed from the mortgages that they...

I think it's far from over. I expect that once the votes are made public we're going to see a pretty strong divide between the newcomers in the rank & file vs. the old-timers and leadership.

I have. BTW, 228 Nay, 205 Yea, 1 NV. How's it feel to live in a democracy?

No, not even close...

What you're advocating is not a free market. What you really want is an anything goes market. One that not only allows corrupt, opportunistic behavior, but promotes it. That sort of model, which we're currently living with, is simply not sustainable.

The people who voted for the repeal of Glass-Steagall were hardly "new kids" nor can you say they were ignorant of history. Bullshit. They only knew what they were told. They were compromised by the lobbiests, PACs and special interests who stood to gain mightily by getting these...

It didn't save anything, it only deferred the problem until today. The bailout didn't bring change to the big 3, which is why we're forking over money to them now. Letting them go under would have sent a signal to the survivors to get their act together or suffer the same fate. Also, those...

Let's re-cap. This "crisis" is rooted in leverage. Leverage that's the result of far too many BYTs and MOTUs with their freshly minted MBAs and flashy powerpoint decks extolling the virtues of their snappy no-way-this-can-lose financial models. Funny, none of them seem to be sporting models...

I think the "if" has been answered, it's how bad those who are even moderately leveraged will get hurt. You simply can't unwind decades of leverage overnight and with little impact. As for ILuvVol, sure looks like a case of buy the rumor and sell the news. Now, if the rank & file in the...

Right, the very same Ben Stein who a year ago was parroting the same line as everyone else, that sub-prime was contained, the number of defaults was relatively small and wouldn't impact the economy. Apparently, and unlike Ben, you've not yet woken up to the fact that "mortgage-related asset"...

Hate to break it to you, but this ain't "The S&L Bailout, Part II" They're not buying land, houses, mortgages or leases this time.

Simplicity does not guarantee robustness. This system, as it stands, is simply not within reach of the majority of retail traders. That said, there's still good value here since you've provided strong evidence that backs up the assertion of how well an FX market trends.

And there we have it. Another man who's been talking his book. You're as morally bankrupt as the rest. Sad...

IMHO, the last two Republicans worthy of any respect were Eisenhower and Teddy Roosevelt. Today's Republicans have been co-opted by the neocons, they're much more dangerous than any Democrat could ever be.

How can you make that assertion when we still don't know the exact universe of "mortgage-related assets" that Paulson will buy with that money? I've got zero faith that he's going to restrict these purchases to paper that's only one or two levels removed from the physical real estate they...

Fundamentally, this is a one-minute breakout system. That sort of system is quite robust when used with markets that trend more often than not. An index market is primarily mean-reverting due to hedging activities, using a trend-following system there is suicide.

For completeness, here's one with full PIP pricing, no commissons. This pretty much underlines just how razor-thin of an edge this system has.

Here's the second, same fractional PIP pricing but with no commissions.

Actually, all you've said so far indicates that you've got an awful lot of learning ahead of you. The core concept of this system is quite sound, in fact, incredibly sound. But, the heavy lifting is in extracting a viable edge due to friction costs inherent in the FX spot market. For the...