Quote from Specterx:
Who should be locked up for creating the housing bubble?
Who should be locked up for offering liar loans and option ARMs?
Who should be locked up when C-class garbage is rated AAA and sold to mom & pop's pension fund, then shorted by the bank that sold it?
Who should be locked up for running the fed funds rate down to nothing and holding it there for a year, allowing Wall Street to take on massive and unsafe leverage?
These are the reasons that we're in a financial crisis. Of course you wouldn't say that people should be locked up for running the market to overvalued highs. I have another great idea: why not just make it illegal for the market to go down? I bet everyone on ET would make money hand over fist.
Finally, the hedge fund industry is down on the year, and as always the results look better than reality because of survivorship bias. Who exactly is making all these billions in profits from trying to corner the U.S. equity markets?
Hmmm...JP Morgan seems to be making out like a bandit during this whole fiasco...