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It wasn't fraud. It was taking too much risk, backed by the full faith and credit of your government. That is, you. If your government were not empowered to take as much of your money as it wants and hand it out to whomever pays the highest bribe (euphemistically called "campaign...

No, I don't agree. No economy is devoid of people who are unethical. Therefore, a successful economy can only exist in the presence of what is and not what should be. Since there is no way to force unethical people to be ethical, we must focus on incentives. The present economic crisis...

I remember reading the market wizards books a million years ago as part of a trading class I took in undergrad. Almost all the market wizards blew up at one time on another. Usually it was because they over traded - took positions that were too large relative to their portfolio. That's what...

Yes, but protection of the realm is one of the VERY few legitimate functions of government. Controlling your behaviour through arbitrary laws is not.

No, people want unlimited healthcare and for someone else to pay for it. Ain't happenin'. They'll get much less healthcare and a sliding standard of living. People want someone else to work to support a lifestyle they believe they can become accustomed to. Ain't happenin'. All they'll get...

What do you expect? In a world where politicians decide who wins and loses instead of allowing companies to succeed or fail based on whether or not they create products that please their fellow man, this kind of behaviour is par for the course Just as it is par for the course that politicians...

No. The only thing green shooting anywhere is toxic waste being shot from the Fed. There's a difference between a recovery and a slower slide into stagnation. But, you've long known that reporters are incredibly stupid, haven't you?

To answer more precisely what caused deleveraging exactly... In 2007, everyone suddenly realized that credit was too cheap and default rates in sub-prime mortgages began to creep us as interest rates rose and house prices fell. That caused the price of the MBS, CDO and other mortgage related...

Deleveraging started long before Lehman went bankrupt. It had been going on since the third quarter of 2007. And the Fed did not know exactly what would happen if Lehman failed. If any government body could know the effects of its policies with such precision, centrally planned command...

Every hedge fund is limited by its clearing broker in the amount of leverage it can have. If the prices of the fund's long positions fall in value, they may find themselves in violation of leverage limits. In this case, they have to sell securities to meet margin calls. Of course, if this...

Pink Floyd.

just to add...you will be taxed if you spend more than 60 (or is it 30 days?) in the country just like a citizen even after you've renounced and paid your cap gains tax. So, once you leave, you really have to leave.

Not anymore. You're referring to an old rule. The HEART legislation, passed last July, changed that rule. Now, you no longer owe taxes after renunciation. Instead, a capital gains tax is levied against your worldwide assets as a condition of the United States releasing you from citizenship...

"But government officials are still wary of what are viewed as unregulated large sums of money moving through financial systems." Exactly. Government officials are always wary of anything out of their reach to screw up. Because, you know, how are you going to figure out how to care for...

You have no idea what you're talking about.

I've actually seen guys burst into tears on the trading floor after a bad day. I don't know what your definition of a "great trader" is, but these were solid, profitable traders.

Great traders will never discuss what they do or how they do it with outsiders. However, I've known a lot of great traders and I've known a lot of these people who will fly into a rage or break things after a bad day or a shitty trade. I've never ever met an emotionless trader. He may not...

This is the marriage of strong government and business. Those who want more government intervention will get exactly more of this - only worse. We now have "national champions" to suck off the productive just like France. Congratulations to all who think government can solve your problems...

Not necessarily. Plenty of people went through the training program, ended up sucking and were eventually fired. A good training program won't make a good trader out of someone who doesn't have the ability to be a good trader in the first place. But if you have what it takes to become a...

Play a lot of poker. A lot. Other than that: Options theory Game theory Mock options trading You don't go to class right away. You start as a clerk, then go to trading class in Bala.